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A Prenuptial Agreement is a legal contract that couples make before getting married to outline how they'll handle their assets and finances if they separate or divorce. In Canada, these agreements (also called "prenups" or "marriage contracts") let partners set their own rules about property division, support payments, and other financial matters.

Canadian courts generally respect prenups as long as both partners fully disclose their finances, get independent legal advice, and sign the agreement without pressure. The contract can't include terms about child custody or support, as these must follow provincial family laws. Many couples use prenups to protect family businesses, inheritances, or assets they owned before marriage.

A Prenuptial Agreement makes the most sense when you're bringing significant assets into marriage, like a family business, investment portfolio, or inheritance. It's particularly valuable for business owners, professionals with established careers, or people entering second marriages with existing financial obligations.

Canadian couples need to create their prenup well before the wedding day - ideally at least 30 days ahead - to ensure it holds up in court. The agreement becomes essential if you want to protect family property, set clear expectations about future wealth division, or maintain control over assets you've built before marriage. It's also crucial when one partner has substantial debt or financial responsibilities from a previous relationship.

• Pre Marriage Agreement: Standard prenup signed before marriage, covering basic asset division and financial responsibilities
• Post Nup Agreement: Similar to a prenup but created after marriage, often due to significant financial changes
• Nuptial Agreement: Comprehensive version covering both assets and lifestyle terms, common among high-net-worth couples
• Antenuptial Agreement: Traditional term for prenups, often used for protecting generational wealth or family businesses
• Prenuptial Agreement After Marriage: Modified agreement for couples who didn't sign before marriage but want similar protections

• Engaged Couples: The primary parties who negotiate and sign the Prenuptial Agreement, particularly those with significant assets or business interests
• Family Law Attorneys: Each partner must have independent legal counsel to review and advise on the agreement's terms
• Financial Advisors: Help assess and document assets, investments, and financial obligations for full disclosure
• Business Valuators: Provide professional assessments of company worth when business interests are involved
• Family Members: Often indirectly affected, especially when protecting family businesses or inheritances
• Accountants: Assist with tax implications and financial planning related to asset division

• Complete Asset List: Gather detailed records of all property, investments, businesses, and debts for both partners
• Income Documentation: Collect recent tax returns, pay stubs, and proof of other income sources
• Future Plans: Document expected inheritances, career changes, or business ventures that could affect finances
• Personal Goals: Define each partner's expectations about property division and financial responsibilities
• Legal Requirements: Ensure the agreement meets provincial family law standards for validity
• Timeline Planning: Start the process at least 30 days before the wedding for proper review and signing
• Full Disclosure: Both parties must provide complete financial information to ensure enforceability

• Identification Section: Full legal names, addresses, and status of both parties as unmarried individuals
• Asset Schedule: Complete listing of each party's property, investments, and debts at time of signing
• Property Division: Clear terms for handling both pre-existing and future-acquired assets
• Financial Obligations: Specific arrangements for spousal support and shared financial responsibilities
• Disclosure Statement: Confirmation that both parties have provided complete financial information
• Governing Law: Reference to applicable provincial family law and jurisdiction
• Execution Requirements: Dated signatures, witness attestations, and certificates of independent legal advice
• Severability Clause: Protection ensuring invalid sections don't void the entire agreement

The key difference between a Prenuptial Agreement and a Co-living Agreement lies in their legal purpose and timing. While both deal with shared living arrangements and financial responsibilities, they serve distinct functions in Canadian law.

• Legal Status: Prenups are formal marriage contracts recognized under family law, while co-living agreements are civil contracts that govern roommate relationships
• Duration and Scope: Prenups focus on long-term asset protection and division upon divorce, while co-living agreements handle immediate living expenses and household responsibilities
• Property Rights: Prenups can permanently affect property ownership and inheritance rights; co-living agreements typically only cover temporary shared living arrangements
• Enforcement Method: Prenups are enforced through family courts during divorce proceedings, while co-living disputes go through civil courts as contract matters