In the day of quick marriages and even quicker divorces, the use of a Prenuptial Agreement is not unusual. In the past, there was a stigma associated with a prenup. If you asked for one, the unspoken message was that the marriage would not last forever. This is no longer the case and many couples find them a useful tool for planning for the future. Another misconception is that it was once thought that a prenup is only for the very rich. Clearly this is not the case as people from all walks of life are finding them useful not only for management of their assets and liabilities, but also as a compliment to an estate plan.

A Prenuptial Agreement sets out how debts and assets will be distributed in the event of death or divorce. If one partner has a large amount of debt, a Prenuptial Agreement will prevent creditors coming after you in the event of a divorce. If you have a child or support obligations from a previous marriage and you pass away, a prenuptial agreement could keep your previously acquired assets separate from your current marital estate. If you have children from a previous marriage, a prenup can also help (along with a valid will) to ensure those children receive part of your estate.

To ensure that your prenuptial agreement is valid and enforceable, the agreement must be in writing, signed by both parties and witnessed, contain a full and complete disclosure of assets and liabilities, ensure that both parties have equal bargaining power and that both parties have received independent legal advice before entering into the agreement.

This form includes the following key provisions:

• Separate Property: The agreement will allow the parties to set out the property being brought into the marriage that should remain separate in the event of death or divorce
• Shared Property: Identifies property that will be shared
• Division of Property: Sets out how all property will be divided in the event of death or divorce
• Disclosure of Assets and Liabilities: Gives the couple the opportunity to define each party's assets and debts coming into the marriage. This is an important provision as failure to list all assets and liabilities can actually invalidate the agreement
• Alimony, Support and Maintenance: Sets out any payments that will be made
• Estate Planning/Wills: References the estate plan and/or Wills of the couple and identifies what will be included (every couple should have a comprehensive estate plan)
• Additional Clauses: Provides room for the parties to add additional provisions that they may find important

These accurate and easy to use forms will help you protect your rights, property and yourself.

This lawyer-prepared packet includes:

1. General Instructions and Checklist
2. Information
3. Step-by-Step Instructions
4. Prenuptial Agreement for use in Canada
5. Certificate of Independent Legal Advice for Canada

Law Compliance: This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon