Prenuptials have long had an uncomfortable stigma associated with them. In previous generations it was assumed that the phrasing “Til Death Do Us Part,” was a reality. Today though many Millennials and Gen Z have experienced a divorce or a separation of some sort, and the stigma of the “pre-nup” is starting to lift. Prenuptial or Cohabitation Agreements are increasingly being used to ensure a smooth division of assets in the event of a separation.
A Prenuptial or Cohabitation Agreement is meant to establish a fair and agreed upon division of assets, debts, responsibilities of all parties in a relationship. At FM Law, we’re seeing more and more couples sitting down and embracing the awkward conversation regarding assets and debt.
Sitting down with your partner to discuss a prenuptial agreement can be daunting. It’s often helpful to sit down with a lawyer to understand the laws of Manitoba and Canada, so that you and your partner can make an informed decision on whether these laws are consistent with your relationship structure. At FM Law, we strive to ensure our clients are fully informed when entering into a relationship so they can organize their lives, pets, debts and assets accordingly.
Prenuptials are often portrayed as an adversarial, or troubling move that is thought best ignored. This couldn’t be further from the truth, prenups require all partners to be completely honest about what they are bringing into the relationship. Discussing debt, payments of said debt, and other financial topics can be uncomfortable in a society that celebrates financial success or the appearance of such, discussing debt requires a strong relationship that creates a safe space where honesty can exist. Thinking of and communicating the future and all its possible outcomes is an extremely important exercise in any relationship. At FM Law, we hope to make these conversations a little easier.
With a prenuptial agreement you aren’t preparing for the inevitable, but a potential. The goal is to make sure you and your partner have the same expectations in the event of a separation or divorce. You both will have an agreement that respects you and your assets.
Do you need more information on Pre-nup, post-nup, or cohabitation agreements? Reach out to FM Law, we’d be happy to discuss whether this is a good option for you and your relationship.