Question

Mr. Santos and Ms. Reyes are about to get married and are considering the Conjugal Partnership of Gains regime under the Family Code. However, they have some concerns and would like to seek your advice.

1. Mr. Santos inherited a valuable piece of property from his parents before the marriage. He intends to sell the property and use the proceeds for the benefit of the family. How would the Conjugal Partnership of Gains regime affect the ownership and disposition of the proceeds from the sale of the inherited property?

2. After the marriage, Ms. Reyes decides to start her own business. Unfortunately, the business fails and she incurs significant debts. In this situation, to what extent can creditors go after the assets of Mr. Santos that are part of the conjugal partnership?

3. During the marriage, Mr. Santos receives a large bonus from his employer. Can he dispose of this bonus without the consent of Ms. Reyes? What would be the effect on the conjugal partnership if he decides to invest the bonus money in a business venture?

4. If Mr. Santos and Ms. Reyes decide to dissolve their marriage, what would be the division of assets under the Conjugal Partnership of Gains regime? How would properties acquired before and during the marriage be allocated between them?

5. Mr. Santos and Ms. Reyes have been married for several years. They both have well-paying jobs and have accumulated substantial wealth together. Can they make a valid agreement to modify or replace the Conjugal Partnership of Gains regime with a different regime that they deem more appropriate for their situation? If so, what are the requirements and limitations in doing so?