For all of you that don't know what a prenuptial agreement is, according to investopedia.com, is a type of contract created by two people before entering into marriage that outlines each party's responsibilities and property rights for the duration of the marriage. More commonly, prenuptial agreements outline terms and conditions associated with dividing up financial assets and responsibilities if the marriage dissolves. Now there has often been the question that most people have which is "how long are these prenup's good for"? Really it depends on where you live and what the local law is to your province or state.
Why I chose to write about this topic was that it got me thinking about how iron clad these prenups are. Apparently, they do not expire, unless you specify a certain date of expiration when you write them. The Law Depot has some do it yourself forms for Canadian people looking to protect their property, children, etc.
But the other question I had was why would the average person get a prenup with their soon to be new spouse, not to mention how could you broach the subject? The answer it seems centres around the idea that all married couples have a prenuptial in place in the divorce law, however it does not cover everything you may think it does. Prenuptial Agreements.org has a great "8 reasons why you should get a prenup" and it is worth the read.
I think that everyone goes into a marriage with the idea that it will last forever, and really it should otherwise why bother? I would hope that you never would have to experience divorce or anything resembling a divorce, but it is always smart to be realistic about your situation and the people that will be affected.
~A divorce is like an amputation: you survive it, but there's less of you ~Margaret Atwood
Liz
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