A prenuptial agreement is a legal agreement between a couple signed before they get married which sets forth the division of their assets in the event of divorce or death.
Parties should individually seek independent legal advice prior to the signing of a prenup.
Parties are required to fully disclose their assets and those that they do not wish to include in the agreement.
Parties should also be aware that the agreement can be set aside by the courts on the grounds that it may have been unfair. Thus, parties with the help of the legal counsel need to review that agreement and make sure it does not heavily favour one party and result in inequality during or after the marriage.
It is also recommended that parties have sufficient time prior to the marriage to review the agreement and make sure that they are comfortable with it.
