Do Your Spouse’s Parent Object to a Prenup?

Prenups can be difficult to negotiate. When you’re about to get married, you want to be thinking about all the good times you’ll have, not the potential for the relationship to end. But a prenup isn’t a forecast of failure; rather, it is a sensible precaution that sets out how assets and support will be handled in the event that things don’t go as planned.

Of course, some families don’t see it that way. Some parents may see their child being asked to enter into a prenup as an insult, or they may be concerned about whether the prenup will be fair.

To help them see that prenups aren’t a threat, we’ve compiled some basic information about prenups in Canada, as well as some of the benefits.

Prenups in Canada

According to the Financial Consumer Agency of Canada, “Prenuptial and cohabitation agreements are contracts that define what will happen financially if your relationship breaks down.” Couples enter into these agreements in order to control who gets what in the event of a breakdown of the relationship. Both parties must agree to all the terms and sign for it to be valid.

Why Get a Prenup?

A prenup can provide peace of mind if one spouse has significantly greater assets prior to marriage than the other, if one partner has significant debts, or just to ensure that you each know where you stand and that you’ll each be treated fairly if the relationship doesn’t work out. As the Financial Consumer Agency of Canada explains, “help couples avoid problems by providing clarity from the beginning to ensure that each partner is treated fairly in the event of a breakup.”

Bustle elaborates on some compelling, specific reasons for a prenup which may sway disapproving parents. One, women are still often at a disadvantage financially, and they need a safety net (especially as child-rearing is still more in women’s hands than men, though hopefully the trend toward more balanced parenting will continue). A bride-to-be’s parents are unlikely to argue against her being financially secure, in the event that things turn sour.

Two, Bustle explains that prenups don’t only protect the higher earner; they can, in fact, be used to acknowledge the contribution of a spouse who helps with other aspects of the couple’s life and ensure that their needs won’t be neglected in the case of a divorce. What parent doesn’t want that for their child?

Furthermore, Business Insider points out that prenups aren’t just about money; they’re about “upfront, honest communication” and planning how to manage your assets. Creating a prenuptial agreement does not have to be viewed as a cynical act. Instead, it is an act of caring and foresight that allows both parties to enter into a marriage with a realistic set of expectations and the confidence that, should they have issues, both members of the couple will be able to make decisions regarding the relationship without the added pressure of complete financial insecurity. Going over finances in detail for a prenup can also help a couple resolve issues before marriage, thereby helping them enter into the next phase of their relationship on more stable ground.

Need Help With Your Prenup?

If you are looking for assistance drafting a prenup that works for you and your future spouse, we can help. We have the experience and knowledge to help guide you through this process so that you can enter into matrimony with less stress and a greater sense of security.

Fine & Associates Professional Corporation is a well-respected Toronto Law Firm that prides itself on providing quality personal service and favourable outcomes in Family Law and Divorce Law.

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