In Canada a prenuptial agreement (prenup) is actually called a marriage contract — a marriage contract is a financial contract.
Getting a prenup done before you get married is not about “planning to fail” but it’s about both parties planning to be agreeable if things go array.
Shawn Scott the senior family lawyer at Brookshire Law Office answers some of the most common questions asked about prenup agreements.
What should I know about getting a prenuptial agreement?
A marriage contract is a financial contract (In the USA it’s called a prenuptial agreement). It’s the marriage contract that determines how your assets and debts are divided and whether or not child / spousal support is paid. Too many marriages end up in divorce, and divorce litigation we all know is expensive. It’s much easier to solve these disputes beforehand when both parties are communicating effectively.
Why is this something that I should consider when getting married?
People should consider a marriage contract in order to avoid future conflict and damage to their relationships with their ex-spouse and their children.
I’m getting a divorce. What happens with my prenup now?
Dust off your prenup (marriage contract). If you don’t have one, it gets expensive, fast. In the absence of a prenup you have to negotiate a separation agreement with your estranged spouse – not so fun.
How secure is a prenuptial agreement? What can you do, or what should you include to be certain you are protected?
Beware, prenups are as good as your lawyer. It acts as the separation agreement once you separate. However spousal support and child care may still need to be resolved through negotiation or through the courts.
How can someone make a prenuptial conversation approachable?
Marriage contracts are not just for the rich. A well designed marriage contract should make transparent the financial philosophy of both spouses, as being on the same page financially is key to a successful marriage. The aim of a well designed marriage contract is to ensure that both parties feel that they are being treated fairly.
If you would like to book your prenup (marriage contract) to be completed with Brookshire Law Office please visit our family law page for information on how to start.