Protect Your Rights by Signing A Prenuptial Agreement
Today, you and your soon-to-be spouse are happy, and you can’t see how those tender feelings will ever change. If anyone suggests you consider a prenuptial agreement, to address how assets, debts, and support would be determined in the event of a future separation or divorce, it just sounds cold. But people can change as their lives unfold, or at least what they want in life can change. That is why every couple needs a prenuptial agreement.
A prenuptial agreement will cover the following topics:
- You and your partner’s separate property
- You and your partner’s shared property
- Division of property after separation
- Spousal support after separation
- Each party’s rights to the estate of the other party after separation
- Each party’s knowledge and expectations at the time the prenuptial agreement was signed
Section 44 of the Family Law Act states that agreements regarding parenting arrangements are only valid if they have been made as the parents are about to separate or after they have already separated. Therefore, prenuptial agreements generally do not cover child support and parenting issues.
While you do not need a lawyer’s assistance to draft a prenuptial agreement, we strongly recommend that you seek the advice and assistance of lawyers. This is because section 93 of the Family Law Act permits the courts to set aside agreements that are substantially unfair. Assistance of lawyers will make it less likely that the agreement you sign will be set aside by a court in the future.
While the conversation about getting a prenuptial agreement can be difficult, you and your spouse deserve to have the peace of mind and security that a prenuptial agreement can bring. Like you, we hope you never need it.
Pax Law’s lawyers are focused on protecting your rights and assets, no matter what happens down the road. You can count on us to help you move through this process as efficiently and compassionately as possible, so you can focus on your big day.
FAQ
How much does a prenup cost in BC?
Depending on the lawyer and the firm, a lawyer might charge between $200 – $750 per hour for family law legal work. Some lawyers charge a flat fee.
For example, at Pax Law we charge a flat fee of $3000 + tax to draft a prenuptial agreement/marriage/cohabitation agreement.
How much does a prenup cost in Canada?
Depending on the lawyer and the firm, a lawyer might charge between $200 – $750 per hour for family law legal work. Some lawyers charge a flat fee.
For example, at Pax Law we charge a flat fee of $3000 + tax to draft a prenuptial agreement/marriage/cohabitation agreement.
Are prenups enforceable in BC?
Yes, prenuptial agreements, cohabitation agreements, and marriage agreements are enforceable in BC. If a party believes an agreement is substantially unfair to them, they can go to court to have it set aside. However, setting an agreement aside is not easy, quick, or inexpensive.
How do I get a prenup in Vancouver?
You will need to retain a family lawyer to draft a prenuptial agreement for you in Vancouver. Be sure to retain a lawyer with experience and knowledge in drafting prenuptial agreements, as poorly drafted agreements are more likely to be set aside.
Do prenups stand up in court?
Yes, prenuptial, cohabitation and marriage agreements often stand up in court. If a party believes an agreement is substantially unfair to them, they can go to court to have it set aside. However, the process of setting an agreement aside is not easy, quick, or inexpensive.
For more information read:
https://www.paxlaw.ca/2022/08/05/setting-aside-a-prenuptial-agreement/Are prenups a good idea?
Yes. No one can predict what will happen in a decade, two decades, or even further in the future. Without care and planning in the present, one or both spouses can be put in dire financial and legal straits if the relationship breaks down. A separation where the spouses go to court over property disputes can cost thousands of dollars, take years to resolve, cause psychological anguish, and damage the parties’ reputations. It can also lead to court decisions that leave parties in difficult financial positions for the rest of their lives.
For more information read:
https://www.paxlaw.ca/2022/07/17/cohabitation-agreements/Do I need a prenup BC?
You do not need a prenuptial agreement in BC, but getting one is a good idea. Yes. No one can predict what will happen in a decade, two decades, or even further in the future. Without care and planning in the present, one or both spouses can be put in dire financial and legal straits if the relationship breaks down. A separation where the spouses go to court over property disputes can cost thousands of dollars, take years to resolve, cause psychological anguish, and damage the parties’ reputations. It can also lead to court decisions that leave parties in difficult financial positions for the rest of their lives.
Can prenups be overruled?
Can you get a prenup after marriage in Canada?
Yes, you can draft a domestic agreement after marriage, the name is marriage agreement rather than prenup but can essentially cover all similar topics.
What should you consider in a prenup?
Separation of assets and debts, parenting arrangements for children, care and custody of children if you and your spouse both predecease the child. If you have a corporation in which you are the majority shareholder or the sole director, you should also have consideration with respect to succession planning for that corporation.
Can prenup be signed after marriage?
Yes, you can prepare and execute a domestic agreement after marriage, the name is marriage agreement rather than prenup but can essentially cover all similar topics.