When it comes to planning for the future, most couples focus on things like wedding details, buying a home, and starting a family. However, one important aspect that often gets overlooked is financial planning within a marriage.
In Canada, prenuptial agreements (prenups) and postnuptial agreements (postnups) are legal tools that help couples establish financial expectations while they are together and protect their assets in case the relationship ends in the future. We’ve set out below how these agreements work, and the differences between prenups and postnups.
A prenuptial agreement, commonly known as a prenup, is a legal contract signed before marriage that outlines how a couple’s assets, debts, and financial matters will be handled during the marriage and in the event of a separation or divorce.
Prenups are customized to reflect the couple’s unique circumstances, covering issues like:
While commonly associated with high-net-worth individuals, prenups can benefit any couple looking for financial clarity and security before getting married. Prenups aren’t just for the rich and famous!
A prenup offers several advantages, including:
A postnuptial agreement, or postnup, is similar to a prenup, except it is created after a couple is already married. It serves the same purpose, defining financial responsibilities and asset division, but it is signed during the marriage instead of before. These agreements are also commonly called marriage agreements.
One common reason that couples make postnups is that they overlooked making a prenup before the wedding. Some other common reasons include:
A postnup provides many of the same benefits as a prenup, including:
The main difference between a prenup and a postnup is timing:
Even if you have a signed agreement, whether postnup or prenup, courts across the country can still decide that your agreement is unfair and not enforceable.
To increase the chances of a court finding that your agreement is enforceable, it’s important that both parties:
A prenup is beneficial for couples who:
Even if none of the above apply, a prenup can still provide peace of mind by setting clear financial expectations before marriage.
A prenup can also provide a snapshot of the assets that each party is bringing into the relationship. Assets acquired by each party before marriage are called excluded property, meaning that they typically are not included in the property that is later divided if a couple separates, with some exceptions.
A postnup is a good option for couples who:
The best time to get a prenup is well before the wedding, at least a few months in advance. This allows both parties to discuss terms thoughtfully without pressure and ensures that the agreement is legally enforceable.
Signing a prenup too close to the wedding date can raise concerns about undue pressure or lack of sufficient time for legal review, which could impact its enforceability later on.
A postnup can be created at any time during the marriage. However, couples should consider getting one if:
Both prenuptial and postnuptial agreements provide valuable financial protection and clarity for couples. Whether you’re planning your wedding or already married, having a legal agreement in place can strengthen your financial security and relationship stability.
At Jointly, we make the process of creating a legally sound prenup or postnup affordable, accessible, and easy to understand. Our online agreement builder helps you create a customized, lawyer-approved document that fits your unique situation without the hefty legal fees.
💡 Thinking about a prenup or postnup? Start your agreement today and take control of your financial future.
Amanda BaronI'm Amanda, one of the founders of Jointly. I've been working as a lawyer in British Columbia for over ten years. I have a deep commitment to access to justice and building stronger, more resilient communities. I’ve always believed that everyone deserves affordable, clear, and accessible legal solutions to navigate life’s big moments.