Last week we participated in the Conference on Family Law in Palma de Mallorca, organised by the Spanish Association of Family Lawyers (AEAFA) and the Bar Association of the Balearic Islands (ICAIB). We had the privilege of attending several keynote presentations on the subject of financial settlements in Article 1,438 of the Civil Code, and financial compensation for family care, among others.
Our founding partner, Elena Agote Diez, an expert on international family law, chaired an interesting and entertaining lecture by Javier Carrascosa González, Professor of Private International Law at the University of Murcia, on current and future financial regimes for married couples in private international law. The talk started with a vision of wedded bliss and ended with help from Sr. Carrascosa’s mentor: Master Yoda, an expert on intergalactic struggles. The enforcement, on 29th January 2019, of Regulations 1103/2016 and 1104/2016 will change the way financial regimes are determined in the case of couples who wed from that date onwards, as it will no longer depend on their nationality, or where the marriage takes place, but on their place of residence, not just immediately after the wedding but for the duration of their married life.
At Agote Diez & Abogados we recommend that couples sign a prenuptial agreement (either before or after the wedding takes place) as a means defining the couple’s marital regime, and thus avoiding the legal uncertainty which may result from a marriage. Apart from financial agreements, prenups can cover all kinds of aspects which affect a couple after the breakdown of a marriage: decisions regarding offspring, the division of assets, agreements on alimony and settlements, among others.
We must bear in mind that marriage is, after all, a legal transaction and it is therefore always best to seek advice, not just in the event of a crisis, but also before the wedding.