A prenuptial agreement is a legally binding contract entered into before marriage. It’s a written account of any assets or debt each person is bringing into the marriage and determines how they will be divided at the time of separation or divorce. In BC, division of property applies to married and unmarried couples who have been living together in a marriage-like relationship for at least two years. Because no one solution works for every couple, we customize legal strategies to suit your specifics. Details can vary significantly from couple to couple, but with legal guidance, spouses can protect their assets in the case of future separation or divorce. Prenuptial agreements may cover premarital assets and debts, heirlooms, family property and marital responsibilities such as finance, or banking management. Although not considered the most romantic way to enter into a marriage, prenuptial agreements open the lines of communication between couples and can create a sense of security and protection.
There are several advantages to having a prenuptial agreement. Divorce procedures can be emotionally charged and negative, with long legal battles ensuing to the detriment of both parties. Substantial legal fees can accumulate, leaving less for couples to split. Personal items like heirlooms can be secured to the original owner, and spouses are protected from pre-marital debts.
If you would and your partner would like to write out a prenuptial agreement, we can help. We are the Law Firm of Bell Jacoe & Company based in Summerland BC, and have served clients throughout the South Okanagan since 1990. Our experienced lawyers provide help with prenuptial agreements, real estate, wills, powers of attorney, injury, divorce, general litigation, commercial law, and more.