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Hello, thank you for the question.
A prenuptial agreement is a smart thing, but it needs to be clear. It doesn't need to be short, it needs to be clear.
So it should list all of the assets and debts that each is bringing to the relationship.
It should say what will happen with any home purchased during the marriage; who will pay for what and contribute in what fashion, and if there are special agreements about how to divide the equity in the home if separation occurs while the home is still owned by either of you, and that if while together you sell the home and buy another that the same arrangements will apply or different arrangements will be written and added to the prenup.
Make sure to address how you'll split the growth of assets you're bringing into the relationship. If each of you has a separate investment/TFSA/RRSP/employment pension, is the growth in that solely belonging to the owner? Even if the owner is putting money into it from earnings while together? Maybe you should be given an amount you can invest to keep as "your own" each year you're together? And does any unused portion carry over?
If either of you has any children or dependents, you probably want it to say that neither of you shall be held to be responsible for personal, physical, or financial support to the dependents of the other.
You'll want to say something about spousal support. You can say that entitlement and quantum of support shall be negotiated in good faith under the circumstances that exist at separation, or you can say that neither is to be held to be responsible for spousal support towards the other under any circumstances given that you are each financially independent at the time of your union and intend to be so during the marriage, and afterwards as well if there is a separation.
Lastly, you can say that any divorce will be sought on the grounds of being separate and apart for one year, and then say who shall apply and pay for the divorce, and that as long as a divorce only is sought the other shall not oppose the application.
Those are the major points. There are examples of prenups online that you can look at to see if they contain topics which you think you should as well. But be careful of simply filling out one you found online. If you're doing this without lawyers, then it has to be absolutely clear to each of you what it says and what you're agreeing to. Don't fill it with legal language. Keep it plain.
Is that a good place to start?
If I have answered you, may I please have a service rating? Ratings are how I get credit from the site for helping its customers. Five stars is best, ***** ***** top of your webpage, or if you're on the app the site will send you an email to rate. I'd appreciate it very much. If you can't find where to rate, I can ask the site to enter a rating for you if you tell me to.
Yes, of course. Just keep it plain. Unless each of you has independent legal advice, you have to keep it layman's terminology.
Anything else? I'm here if you have further question or comment on the topic.
In the meantime, may I please have that service rating?
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