Document background
The Financial Prenuptial Agreement is a crucial legal document for couples planning to marry in Canada who wish to establish clear financial arrangements and protect their assets. This agreement is particularly relevant for individuals with significant assets, business interests, expected inheritances, or those entering second marriages. The document must comply with both federal divorce legislation and provincial family law requirements, which can vary by province. A valid Financial Prenuptial Agreement requires full financial disclosure from both parties, independent legal advice, and proper execution well in advance of the marriage. It typically includes detailed schedules of assets and liabilities, provisions for property division, and terms for spousal support. The agreement helps prevent future disputes by clearly documenting the parties' intentions regarding their financial affairs during marriage and in the event of separation or divorce.
