Often associated with movie stars, famous musicians and other wealthy jet-setters, prenuptial agreements are contracts signed by both partners before the wedding. Called “prenups” for short, these contracts typically list each partner’s assets (property, money, investments, etc.) and liabilities (debts). The prenup outlines how marital property, in addition to premarital property, is to be divided in the event of a marriage; and contrary to popular belief, they often are used by non-wealthy people to protect a family business or other such assets. In the absence of a prenup, property and debts typically are divided right down the middle.
Deciding how a marriage will be dissolved before even getting married might sound like the ultimate red flag. But regardless of the "forever" concept of marriage and at risk of sounding too cynical, the fact is that filipino couples have a 50/50 chance that their marriage will end in annulment.
That means a prenuptial agreement (or "prenup") makes logical, if not romantic, sense for many couples.
For me, It's not just something for the rich and famous any longer. It's for people that have assets and/or income that they want to protect...and I'm glad I never executed a prenup because I'm poor.
