I have a friend who plans to get married and he's worried about his future wife getting half of everything. Anybody have experiences with prenups and their experiences?
Question about prenups
- Thread starter LittleAsianGuy
- Start date
no experience but...
I think a its totally a smart thing to do.
"cute kimmy" is one of my best girlfriends and I worry for her...
she "worked" until she got her condo and beautiful car...both in her name but
now she is living with a guy sharing everything... common law for over a year now...
If they ever break up she could lose all the stuff she worked so hard for!
If I ever had a boyfriend who asked me to sign the dotted line I would without hesitation.
I would never want to take what wasn't given to me.
And if I had property I would be sure to make it mine forever!
lol some people just trust too much.
I think a its totally a smart thing to do.
"cute kimmy" is one of my best girlfriends and I worry for her...
she "worked" until she got her condo and beautiful car...both in her name but
now she is living with a guy sharing everything... common law for over a year now...
If they ever break up she could lose all the stuff she worked so hard for!
If I ever had a boyfriend who asked me to sign the dotted line I would without hesitation.
I would never want to take what wasn't given to me.
And if I had property I would be sure to make it mine forever!
lol some people just trust too much.
I think it's the smart thing to do also but im curious if the common law or spouse can still take you to the cleaner even with a prenup? Gee someone should have a talk with cute kimmy. I heard briney/kfed signed a prenup and he's taking her to the cleaners. I know their situation is a bit odd and different
The Supreme Court of Canada in their latest decision last year I believe, affirmed that marriage contracts aka pre-nups should remain (previously the courts would commonly tear them up with virtually any reason). So they will hold up in most cases, provided that they are fair (I'll explain later) and the other party has had it reviewed by their own counsel.
Pre-nups are more likely to be thrown out the longer the marriage lasts, especially if you have been say married for 7 years and have 2 kids. Here you can count on some serious asset splitting etc.
But, if you have been only married for a short time, then pre-nups will likely hold up.
If you are married for only a year, then you won't need a pre-nup at all, typically the parties will just keep what they brought into the marriage. So you don't have to be worried about being married for a few months and the wife getting half of your 3 million dollar house in Shaughnessy.
The Supreme Court of Canada had some guidelines for pre-nups to hold up. Besides her getting independent legal advice before she signs, the Court determined that the spouse is entitled to 3% of your assets for every year of marriage. After 7-10 years of marriage, especially if you have kids, then these pre-nups are usually not considered anymore.
Pre-nups are more likely to be thrown out the longer the marriage lasts, especially if you have been say married for 7 years and have 2 kids. Here you can count on some serious asset splitting etc.
But, if you have been only married for a short time, then pre-nups will likely hold up.
If you are married for only a year, then you won't need a pre-nup at all, typically the parties will just keep what they brought into the marriage. So you don't have to be worried about being married for a few months and the wife getting half of your 3 million dollar house in Shaughnessy.
The Supreme Court of Canada had some guidelines for pre-nups to hold up. Besides her getting independent legal advice before she signs, the Court determined that the spouse is entitled to 3% of your assets for every year of marriage. After 7-10 years of marriage, especially if you have kids, then these pre-nups are usually not considered anymore.
hmmmm
Let's say I have a property in the USA and get married, then divorced. Do the Canadian courts have authority to divide up stuff that is in my name but out of the country?
Let's say I have a property in the USA and get married, then divorced. Do the Canadian courts have authority to divide up stuff that is in my name but out of the country?
The simple answer is yes but there's a way around that. You can easily set up offshore corporations in jurisdictions that dot have t report principals or you can have it all under the name of a trustee who is usually a lawyer and therefore you're protected by privelage. The courts, spouses, debtors etc can not touch anything that they can not prove that you own.
A girl I dated and almost married - when i brought up the idea of pre-nup - she was seriously offended! I think that did irreversible damage to our relationship. We broke up in the end (not because of the pre-nup). But I recently married - and without a prenup! It feels fine as we are both on the same financial wavelength.
It makes sound financial sense for a pre-nup ,but it depends on each relationship. It definetely wrecks the romantic aspect of marriage.
It makes sound financial sense for a pre-nup ,but it depends on each relationship. It definetely wrecks the romantic aspect of marriage.
lol rather hurt the romantic aspect of a marriage than to be screwed financially for the rest of my life
Not something she has to worry about. If the relationship goes south then the only possessions/assets on the line are those that were aquired while they were together. Each person gets to keep what they brought into the relationship. If they broke up then Kimmy would keep her car and condo and the bf would have no claim on it.
Never married, only common-law and never had to give up a dime when it was over.
How can you prove who paid for what, unless you have receipts and serial #'s for everything (among other things)? This is the first time I have heard anyone say they split up after being common law and didn't lose half their shit.
Proving what you brought into the relationship should not be a problem, the car, the condo, etc. What was aquired during the relationship could present the same kind of legal mess, as if a marriage certificate was involved. Depending how secure you feel in the relationship would dictate the effort you put into proving aquisition. If you go buy a Rolex while collecting U.I. then it may be hard to prove you did it on your own. Tell them you are an SP maKing ?? a month, and have the tax records to prove it, you'll keep the Rolex. It's a matter of records and to a degree, what makes sense if you have to argue the issue.
If you are DT, walk into the family courts building, there all kinds of pamphlets there with relivant information. Ditto on the net.
