Prenups are getting more popular among millennials. What to know before you sign
Global News
A prenuptial agreement is like an 'insurance policy' that can not only protect one’s assets but can make a separation process, should a marriage fail, a lot smoother, experts say.
With wedding season in full swing in Canada, prenups are in high demand.
Family lawyers who spoke to Global News say they have seen a rise in the number of millennials opting to sign prenuptial agreements before getting married – and that could save couples a lot of stress and heartache down the road.
“I’ve been practicing for 13 years now, and I would say they’re becoming more popular,” said Kirsten Hnatuk, a partner at Robertson Stromberg LLP, a law firm in Saskatoon.
“I’m seeing a lot of people in their late 20s, 30s, early 40s who are getting prenups.”
The legal contract lays out the financial assets of the couple and how those will be divided in case the marriage fails.
Planning for a divorce is not the most romantic way to kickstart a married life together, but it’s as important as financial planning or any other aspect of cohabiting, said Hnatuk.
It’s like an “insurance policy” that can not only protect one’s assets but make the separation process a lot smoother, legal experts say.
“Separations can be very, very messy,” said Laura Paris, an associate lawyer at Shulman and Partners LLP, a family law firm in Ontario.
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