A marriage agreement (prenuptial) is like an insurance policy
The negative stigma surrounding a marriage agreement or prenuptial as it’s more commonly referred to, persists in Canada, despite the very real statistics about divorce. These prenuptial agreements can help to protect wealth and assets in a divorce, and they can be written around things that commonly cause couples to split up, such as infidelity. Despite how helpful this sounds, people look at them negatively because no one wants to believe a marriage is going to end.
After all, is there anything less romantic in the months leading up to the wedding than planning for the divorce?
The key, though, is to think of these contracts the same way that you think of insurance policies. When you buy insurance for your car or your home, you hope that you’re never going to be forced to use it due to a car accident or a fire. It’s not something you want to use, but you know what the statistics say about car accidents, so you get that protection in place.
A marriage agreement is the same thing. Yes, you may never need it, but the statistics show that divorce is common. Wouldn’t you rather have the agreement on the books, protecting you and your personal assets, even if you never plan to use it? Just like insurance, that’s far better than wanting one when it’s too late, and it does not even cost you anything on a yearly basis to get the agreement in place.
If you want to learn more about how marriage contracts work, we have a lot of important information on our marriage agreement webpage. We invite you to check it out and find the answers to your questions.