should you get a prenuptial agreement?
DESCRIPTION
A Prenuptial Agreement (“PreNup”) is one of the many types of domestic contracts that a couple can enter into. A PreNup is intended to fix and determine the status, ownership and division of all property now owned or acquired by the spouses prior to and during the marriage. A PreNup may be similar to a Cohabitation Agreement. The main difference is that a PreNup is prepared in contemplation of marriage and a Cohabitation Agreement does not necessarily have to contemplate marriage. Learn more: https://mmfamilyanddivorcelawyers.ca/should-you-get-a-prenuptial-agreement/ MM Family & Divorce Lawyers Suite 302, 888 4 Ave SW Calgary T2P 0V2 403-718-9815TRANSCRIPT
SHOULD YOU GET APRENUPTIALAGREEMENT?
A Prenuptial Agreement (“PreNup”) is one of the many types of domesticcontracts that a couple can enter into. A PreNup is intended to fix and
determine the status, ownership and division of all property now owned oracquired by the spouses prior to and during the marriage.
Spouses want the certainty and predictability ofknowing how their assets will be dealt with in theevent of separation, divorce or death.
MM Law provides professional legal work for famil ies whoare seeking to address matrimonial property divis ion.
MM Family & Divorce LawyersSuite 302, 888 4 Ave SW Calgary T2P 0V2
+1 403-718-9815https://mmfamilyanddivorcelawyers.ca/
HTTPS://MMFAMILYANDDIVORCELAWYERS.CA/
CERTAINTY AND PREDICTABILITY
FAIR ASSET DISTRIBUTION
It may be fair to keep a part or the whole of thatasset acquired prior to marriage, and any increasein value subsequent to marriage, exempt fromfuture distribution.
COST-BENEFIT ANALYSISIf the parties cannot amicably come to anagreement on the division of their matrimonialassets after separation, litigation can be costly –both financially and emotionally.
MAINTAINING EXEMPTION ONEXEMPT PROPERTYHaving an enforceable PreNup allows separatedspouses to maintain their exemptions even if there isan increase in value or even if they are co-mingled.
OTHER CONSIDERATIONS
One of the most common uses of PreNups is tokeep businesses or corporations separate andapart from matrimonial property division.