Prenuptial Agreement: What Is It and Why Is It Important?

A couple showing their marriage rings

Out of the fourteen million married individuals in Canada, few people are aware of prenuptial agreements.

If you’re getting married soon, we suggest you hire lawyers to draft a prenuptial agreement for you. Continue reading this blog to find out more about prenuptial agreements.

What Are Prenuptial Agreements?

A prenuptial agreement, also known as a prenup, is a written contract between a couple before their marriage, which protects their financial assets. Many individuals who don’t opt for a prenup can lose a lot of money during a divorce. If you want to ensure your hard-earned money is protected even after the marriage, a prenup is necessary.

The Importance Of Prenups

A prenuptial document promotes transparency between a husband and a wife before they’re married. It ensures that both individuals are financially protected and makes the divorce settlement less complicated. A prenuptial agreement also allows you to divide your designated assets among your children, which can help you protect their future.

Documents You Need For Prenuptial Agreement

Prenuptial agreements can become a hassle if you draft them on your own. You’ll have to give full financial disclosure and submit all your documents to maximize transparency in a prenuptial agreement. Here’s a list of all the documents you might need:

  • Mortgage documents
  • Bank statements
  • Real estate papers
  • Vehicle documents
  • List of all personal assets like jewelry, and antique items
  • Medical bills
  • Credit card statements
  • Tax documents
  • Debt repayments
  • Financial affidavit
  • Business documents (if applicable)

Two individuals signing a prenupSubmitting all the documents and creating a prenup from scratch is a challenging task. You should hire family lawyers if you need legal assistance.

Hire Experienced Family Lawyers To Draft Prenuptial Agreements

Looking to draft a prenuptial agreement before your marriage? You’re making the right decision! At Nanda & Associate Lawyers, our team of family lawyers can help you make an extensive prenup that protects your financial assets. Our team can analyze all your assets and make a customized prenup for you.

Apart from prenuptial agreements, we help our clients manage different family law matters, including marriage agreements and divorce. We’ve also got a team of immigration lawyers that assist our clients in migrating to Canada.

Get in touch with the team at Nanda & Associate Lawyers for more details about our family law services.

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