What to include in a prenuptial agreement

Prenuptial agreements, entered into with the help of an Ontario attorney, can be the bone of contention between couples, because it can appear that a husband and future wife are focusing on getting divorced even before the marriage ceremony is over. . square!

I do (or not ?!)

However, it is an unavoidable fact that roughly just over a third of marriages do not make it to the finish line, so it is crucial and only sensible to protect yourself financially should your marriage become part of this statistic. By doing so, you also protect yourself emotionally. A prenuptial agreement can give you the peace of mind you need to begin your married life with confidence; Knowing that if things go wrong, you have a contract in place to ensure the division of assets is fair and legally enforceable in a court of law.

What exactly do I need to include?

1. Any personal asset

You might be a business owner; perhaps built from scratch that you wouldn’t want to risk losing in the event of a divorce or separation. Adding your business as a separate personal asset would protect and maximize your future income should you and your partner go your separate ways, as you would not be entitled to a share. You can also own your own property or an item, such as a family heirloom, that you want to keep within your family. If you secure your personal assets in a prenuptial agreement, with the help of an Ontario attorney, you will be assured that someone who may become a complete stranger during or after the divorce process will not walk away with anything of great importance. value to you.

2. Dependent children

Any dependent child; Either from a previous relationship or as a result of your marriage you will need to be taken care of financially in the event of a separation or divorce and a prenuptial agreement can determine your exact wishes as to how any property and assets; either personal or joint, it will be used to support the dependent children financially.

3. Details of your estate

Many people think in terms of a living will / will when planning how to leave their estate, but a prenuptial agreement can also be used as an essential estate planning document. In the unfortunate case of “until death we part”; A prenuptial agreement can be a valuable guide in separating personal property from that which can be acquired during marriage, which means you can decide what your partner will receive as part of your estate and what your children or other family members will inherit.

How does this protect me?

In this modern age of relationships where many couples have been married before, have assets outside of the relationship or have children for whom they wish to keep valuables; A prenuptial agreement with a Toronto family attorney makes perfect sense to plan, protect, and control what you added to the relationship for both you and your loved ones.