When entering into marriage or a common-law partnership, it is important for couples to consider the financial implications of their union. One way to protect assets and clarify financial responsibilities is by drafting a prenuptial agreement, also known as a marriage agreement in British Columbia.

A prenuptial agreement is a legal contract that outlines how a couple’s assets and debts will be divided in the event of a separation or divorce. It can also include provisions for spousal support and other financial matters. In British Columbia, prenuptial agreements are governed by the Family Law Act.

To be legally binding, a prenuptial agreement must be in writing and signed by both parties. It must also be entered into voluntarily and with full disclosure of each party’s financial information. If either party does not understand the terms or was coerced into signing the agreement, it may not be enforceable.

It is important to note that prenuptial agreements cannot include provisions for child custody or child support. These matters are determined by the courts based on the best interests of the child.

In British Columbia, prenuptial agreements can also be challenged in court if they are found to be unfair or unreasonable. In determining whether an agreement is valid, courts will consider factors such as the length of the marriage, the financial circumstances of each party, and any changes to those circumstances since the agreement was signed.

If you are considering a prenuptial agreement, it is important to consult with a family law lawyer who can guide you through the process and ensure that your agreement is legally binding and enforceable. A lawyer can also help you negotiate fair and reasonable terms that protect your interests.

Overall, a prenuptial agreement can provide peace of mind for couples entering into a marriage or common-law partnership, and can help prevent costly and time-consuming disputes in the event of a separation or divorce.