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Prenuptial Agreement

A prenuptial agreement outlines the rights and obligations of both partners if the relationship breaks down – whether by separation, divorce, or death. 

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What is a Prenuptial Agreement?

What is included in a Prenuptial Agreement?

A

Can I make alterations to my prenuptial agreement?

What is a Prenuptial Agreement?

A prenuptial agreement is a legally binding contract between two people who plan to enter a common-law relationship or a marriage. In short, a prenuptial agreement outlines the rights and obligations of both partners if the relationship breaks down – whether by separation, divorce, or death. 

Entering a prenuptial agreement while a relationship is healthy can be an uncomfortable experience – we love each other, why should we be planning for our relationship to fail? However, it’s important to realize that prenuptial agreements often benefit both parties in the unfortunate event that a relationship breaks down. Think of a prenuptial agreement as insurance for your home or vehicle – you hope you’ll never need it, but if you do, you’ll be glad you have it. 

Benefits of Prenuptial Agreements

N

Couples with prenuptial agreements are unlikely to enter legal battles over the division of property and assets

N

because there is no litigation, both spouses save on expensive legal fees

N

agreement is the least expensive method of dividing assets

N

the emotional cost of prolonged court proceedings is avoided – this is significant for separations where children are involved

N

prenuptial agreements can be used to protect the rights of children and serve their best interests

What is typically included in a Prenuptial Agreement?

N

How assets each party brought into the relationship will be divided;

N

What, if any, specific property is excluded from division;

N

How debt will be divided;

N

How assets purchased together will be divided;

N

If either party remarries, the role of step-parents;

N

Who pays which expenses during the relationship;

N

Child support about children from previous relationships;

N

Child custody/access to children from previous relationships;

N

Child access;

N

Who makes educational and moral decisions relating to their children;

N

Who makes educational and moral decisions relating to their children;

N

Who makes educational and moral decisions relating to their children;

N

Rights and obligations during the relationship; and

N

Any other specifically agreed to matter

Drafting a Prenuptial Agreement

A prenuptial agreement is a legally binding contract between two people who plan to enter a common-law relationship or a marriage. In short, a prenuptial agreement outlines the rights and obligations of both partners if the relationship breaks down – whether by separation, divorce, or death.

Entering a prenuptial agreement while a relationship is healthy can be an uncomfortable experience – we love each other, why should we be planning for our relationship to fail? However, it’s important to realize that prenuptial agreements often benefit both parties in the unfortunate event that a relationship breaks down. Think of a prenuptial agreement as insurance for your home or vehicle – you hope you’ll never need it, but if you do, you’ll be glad you have it.

Can I make alterations to my prenuptial agreement?

A prenuptial agreement is a legally binding contract between two people who plan to enter a common-law relationship or a marriage. In short, a prenuptial agreement outlines the rights and obligations of both partners if the relationship breaks down – whether by separation, divorce, or death.

Entering a prenuptial agreement while a relationship is healthy can be an uncomfortable experience – we love each other, why should we be planning for our relationship to fail? However, it’s important to realize that prenuptial agreements often benefit both parties in the unfortunate event that a relationship breaks down. Think of a prenuptial agreement as insurance for your home or vehicle – you hope you’ll never need it, but if you do, you’ll be glad you have it.

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