What Can Be Included In A Prenup?

A prenuptial agreement, or prenup, is much more than a contract for dividing property in the event of a breakup. It’s a tool that allows couples to plan, protect, and clarify their financial and legal expectations before marriage.

Many people wonder: what can you include in a prenup? Typically, prenups cover subjects ranging from real estate, spousal support (alimony), investments, retirement plans, and even provisions for businesses owned by one or both spouses.

This guide breaks down the most common items included in a prenup, how to create one in Canada, and what to consider when drafting your agreement.

What Can You Include In A Prenup?

Prenups are flexible and can address a wide range of topics. Here’s a breakdown:

Assets and Property

You can decide how assets will be treated during the marriage and if the relationship ends. This includes:

• Real estate, like homes or rental properties
  
• Savings and checking accounts
  
• Investments, RRSPs, TFSAs, and other registered plans
  
• Businesses and shares
  
• Personal property, such as vehicles, jewelry, or art
  

Couples can specify which assets are separate property and which are marital property, helping avoid disputes later. Separate property (which in general is most property you acquired before the marriage) is typically not divided if you split, as opposed to marital property, which is usually divided 50-50 unless you have an agreement that says something different.

In fact, creating a record that shows what type of assets each partner is bringing into the relationship is a common reason that couples create prenups. Even if you want to split everything you build together 50-50, it can be hard to remember what each of you came in with if you’ve been together for many years.

Debts and Liabilities

A prenup can outline how existing debts (credit cards, student loans, mortgages) will be handled and who is responsible for new debts incurred during marriage. This is important if you are each coming into the relationship with different debt loads, or if one person is intending to take on significant debts in the future (for example, loans to start a business). 

Spousal Support / Alimony

Prenups can define whether one partner will pay spousal support, how much, and under what circumstances. This may include:

• Temporary or rehabilitative support
  
• Lump sum payments
  
• Waivers of support, where legally permitted

Talking about this early in your relationship is extremely important. Understanding where you each stand before making major financial decisions like one partner leaving the work force to care for children can prevent significant disagreement and hardship down the road.

Inheritance and Estate Planning

Prenups can coordinate with wills, trusts, and estate plans to protect both partners’ families. For example:

• Ensuring children from a previous relationship are provided for
  
• Specifying how estate or inheritance assets are treated
  
• Clarifying rights to pensions, RRSPs, or other registered plans

For blended families or later in life marriages in particular, coupling a prenup with estate planning can ease tensions between previous children and new partners and ensure that the interests of both are clear and protected.

Financial Responsibilities During Marriage

Couples can outline how finances will be managed day-to-day, including:

• Who pays household expenses
  
• Savings contributions
  
• Joint accounts vs separate accounts
  
• Budgeting and investment decisions
  

Other Considerations

Prenups can include additional agreements, such as:

• Division of pets or other personal property
  
• Ownership of business assets if one partner is an entrepreneur
  
• Family obligations, such as caring for elderly parents
  

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What Is A Prenup?

A prenup is a legal agreement made before marriage that outlines how assets, debts, and responsibilities will be handled during the marriage and in the event of separation or death.

What Does A Prenup Do?

It protects both partners by:

• Reducing financial uncertainty
  
• Preventing disputes during divorce or separation
  
• Safeguarding premarital assets and inheritance
  
• Providing clarity on spousal support obligations
  

Who Needs A Prenup?

Prenups aren’t just for wealthy couples. They’re valuable for anyone with:

• Assets or debts they are bringing into the relationship
  
• Plans to take career breaks to care for children
  
• Business ownership
  
• Children from previous relationships
  
• Desire for clear financial agreements and peace of mind
  

Prenup Vs Postnup: The Difference

• Prenup: Signed before marriage.
  
• Postnup: Signed after marriage. Both can cover the same topics and have the same effects – so if you missed making a prenup, it’s not too late.

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How To Create A Prenup

1. Open communication – Discuss your goals and expectations with your partner.
   
2. List assets and liabilities – Make a comprehensive inventory of everything you own and owe.
   
3. Decide on key terms – Determine how assets, debts, support, and financial responsibilities will be handled. Our free Agreement Starter Kit can help you understand the options that are available to you.
   
4. Draft the agreement – Our lawyer-designed agreement builder will guide you through the process of creating a prenup together – one that fits your relationship and your goals.
   
5. Consult a lawyer – If you can afford it, both partners should get independent legal advice to ensure that you understand and agree to the terms of the prenup. This isn’t mandatory in all provinces, but it’s always a good idea.
   
6. Sign the agreement – Both parties sign in the presence of witnesses as required by provincial law.
   

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Prenup Agreement Cost

The cost of a prenup varies depending on complexity, location, and whether lawyers are involved:

• Low-cost / DIY or online templates: $0 – $50 (often unreliable and not tailored to the law in your province)
  
• Jointly’s lawyer built platform: $379
  
• Lawyer-assisted agreements: $2,500 – $5,000
  
• Complex agreements with businesses, property, or estate planning considerations: $5,000+
  

Using an online platform like Jointly can make the process more affordable and accessible without sacrificing legal reliability.

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FAQs

Can cheating void a prenup?

Not in Canada. Prenups are typically focused on financial and property matters, not personal behavior. Some agreements may include clauses related to infidelity, but these are typically not enforceable in Canada.

Is a Prenup Legally Binding?

Yes, if both partners fully disclose assets and liabilities, sign voluntarily and receive independent legal advice, in provinces where it is legally required to do so.

When is a prenup signed?

A prenup is signed before marriage, usually several months in advance to ensure time for proper review and legal advice.

Can you change a prenup?

Yes. You can update a prenup anytime with a postnuptial agreement or mutual amendment, as long as both parties agree and legal requirements are met. It’s a good idea to review your agreement regularly, and update it as your circumstances change to make sure it’s still a good fit for your circumstances.

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Final Thoughts

A prenup is a powerful tool to protect assets, reduce conflict, and clarify financial responsibilities. From property and debts to spousal support and estate planning, a well-drafted prenup can cover almost any topic that helps couples plan for a secure future.

At Jointly, we make creating a prenup simple, clear, and affordable – helping Canadian couples protect themselves and their relationships.

👉 Ready to create your prenup? Visit getjointly.ca to get started today.