Prenuptial Agreements
Although it may seem unromantic and disheartening to put into writing decisions about personal assets in the event of a separation shortly before your wedding ceremony, prenuptial agreements are a necessity for both partners in a marriage. The goal of a “prenup” is not to encourage separation or divorce, but to protect each partner in the event of divorce.
Who needs a prenuptial agreement?
A prenuptial contract may be enacted for any party that has assets to be protected. Those most likely to want or need a prenuptial contract are parties who:
- Have estate plans or wills
- Are entering a second marriage
- Are entering a cohabitation relationship
- Own significant assets or businesses before marriage
- Own a home which becomes the matrimonial home
- Invest personal assets toward the purchase of a matrimonial home
- Earn a significantly higher or lower income than their partners
- Forgo a career due to the relationship
- Are sole providers for relatives in need
If you feel that you fit one of the qualities listed above, consult Irving Solnik, a family lawyer in Toronto, before producing any prenuptial forms. Irving Solnik will help ensure that you are taking the correct course of action for you and your spouse—and make sure your rights are protected every step of the way!
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