Question

Mr. and Mrs. Dela Cruz got married on September 1, 2010. They did not execute any marriage settlements, thus, their property regime is governed by the default regime under the Family Code, which is the conjugal partnership of gains. As the couple faces financial issues, they are considering the possibility of entering into a post-nuptial agreement to modify their property regime.

Discuss the essential requirements, procedure, and effects of a post-nuptial agreement in modifying their conjugal partnership of gains regime. In your answer, cite the relevant provisions of the Family Code, particularly Articles 75 to 81 on marriage settlements, and Articles 105 to 133 on the conjugal partnership of gains regime.