Here is a template of some of the terms that may be included in a prenup:
COMMENCEMENT
RECITALS
PROPERTY DIVISION
SUPPORT OBLIGATIONS
HOUSEHOLD EXPENSES
MATRIMONIAL HOME
BUSINESS INTERESTS
OTHER PROPERTY
TAX CONSEQUENCES
ESTATE PLANNING
MISCELLANEOUS
Here is part of a Manitoba prenup, to give you an idea what a prenup looks like:
Recitals
1.04 Each of the parties is the owner of certain assets which have been acquired prior to the cohabitation and intended marriage and each party intends to maintain all of their assets as their sole and separate property, free from any claim thereon by the other now and in the future, except as may be varied by the terms of this Agreement.
1.13 The parties wish to provide by this Agreement for a scheme of property ownership, disposition, sharing and entitlement governing each of their assets, debts and liabilities which presently exist or which may exist in the future, and to settle by agreement their financial rights and obligations with respect to each other and with respect to the rights that will accrue to each party in the property and estate of the other by reason of their cohabitation and/or marriage, and to waive and release their rights that exist pursuant to various statutes and at common law, and to accept in lieu of and in full satisfaction and discharge of all such rights the provisions of the within Agreement.
1.15 The parties acknowledge that this Agreement is a “spousal agreement” as that term is defined in The Marital Property Act. 5.01 The parties acknowledge and agree that each has fully disclosed to the other the real and personal property of any significant value in which he or she has any interest and each party acknowledges the sufficiency of such disclosure, both as to form and as to substance.
Property Division
6.01 The Marital Property Act and amendments thereto and specifically each provision therein shall be inapplicable to Arthur’s and to Jennifer’s assets and separate assets, debts and liabilities and, further, wherever there is a conflict between the statute and this Agreement, this Agreement shall prevail. The parties intend that this Agreement shall be and be deemed to be a spousal agreement as defined in The Marital Property Act.
Spousal Support
9.01 Arthur acknowledges that he is not substantially dependent upon Jennifer and is self-supporting and is able to support himself now and in the future, and hereby covenants and agrees that there shall be no obligation on Jennifer to pay maintenance or financial support to Arthur presently or at any time in the future. Arthur releases Jennifer from any demands or claims whatsoever in respect of his rights as husband to maintenance and support by Jennifer, whether such rights arise by common-law or pursuant to any legislation presently in force or which may come into force at any time in the future and in particular under The Family Maintenance Act or The Divorce Act, 1985. Arthur acknowledges that this waiver forever bars any application for alimony, maintenance or support at any future time, notwithstanding any subsequent change in the circumstances of either party, no matter how catastrophic or unforeseen.
9.02 Jennifer acknowledges that she is not substantially dependent upon Arthur and is self-supporting and is able to support herself now and in the future, and hereby covenants and agrees that there shall be no obligation on Arthur to pay maintenance or financial support to Jennifer presently or at any time in the future. Jennifer releases Arthur from any demands or claims whatsoever in respect of her rights as wife to maintenance and support by Arthur, whether such rights arise by common-law or pursuant to any legislation presently in force or which may come into force at any time in the future. Jennifer acknowledges that this waiver forever bars any application for alimony, maintenance or support at any future time, notwithstanding any subsequent change in the circumstances of either party, no matter how catastrophic or unforeseen.
Child Support
10.01 The parties agree that Arthur shall not be responsible for the support of Jennifer’s child, Alexander, nor shall Arthur stand in loco parentis to the said child in any circumstance whatsoever.
10.02 The parties acknowledge and agree that Jennifer is hereby forever and absolutely barred and estopped from bringing any application or claim against Arthur for child support for Alexander under The Divorce Act, 1985 (including an application under Section 17 for a variation of support) or The Family Maintenance Act or any other similar legislation, whether Federal and Provincial, or any successor legislation and that this Agreement may be pleaded and shall be accepted as a complete bar and defense to any such claim that may be advanced contrary to this provision.
Pension
11.01 The parties acknowledge that Arthur has been contributing to a pension plan through his employment with the University of Manitoba. Jennifer releases Arthur from any and all claims and rights that she may have, have had or afterwards may acquire in Arthur’s pension plan(s) or benefits, whether the plan is administered federally or within a province, and will execute such documents as are required to give effect to this intention pursuant to The Pension Benefits Division Act or The Pension Benefits Act.
11.02 Jennifer covenants and agrees that should she at any time receive a portion of the pension benefit credits accumulated by Arthur pursuant to his employment with the University of Manitoba, she shall reimburse Arthur for any and all sums received by her. If, as a result of any application, legislation, Court Order or other reason whatsoever, Jennifer receives any payment or benefit either directly, indirectly or otherwise from Aurthur’s pension plan, Jennifer shall immediately repay to Arthur the entire payment or benefit received and shall, if needed in order to give effect to the intent of this and the preceding paragraphs hereof, consent to a Judgment against her in any amount equivalent to the future benefits or payments to be received and shall in addition reimburse Arthur for any and all costs incurred in his enforcement of this provision. If the said payments or benefits arise as a result of any action or application by Jennifer to alter the intent of this and the preceding paragraphs hereof, the costs shall include all solicitor costs and disbursements necessary to defend or negotiate the actions brought by Arthur. Jennifer agrees that she shall do all such things and sign all such documents as may be necessary to enforce the spirit and intent of this provision and to ensure that Arthur shall retain intact any and all pension plan as if they had never cohabited.
11.03 The parties acknowledge that Jennifer has been contributing to a pension plan through her employment with the Canadian Broadcasting Corporation. Arthur releases Jennifer from any and all claims and rights that he may have, have had or afterwards may acquire in Jennifer’s pension plan(s) or benefits, whether the plan is administered federally or within a province, and will execute such documents as are required to give effect to this intention pursuant to The Pension Benefits Division Act or The Pension Benefits Act.
11.04 Arthur covenants and agrees that should he at any time receive a portion of the pension benefit credits accumulated by Jennifer pursuant to her employment with the Canadian Broadcasting Corporation, he shall reimburse Jennifer for any and all sums received by him. If, as a result of any application, legislation, Court Order or other reason whatsoever, Arthur receives any payment or benefit either directly, indirectly or otherwise from Jennifer’s pension plan, Arthur shall immediately repay to Jennifer the entire payment or benefit received and shall, if needed in order to give effect to the intent of this and the preceding paragraphs hereof, consent to a Judgment against him in any amount equivalent to the future benefits or payments to be received and shall in addition reimburse Jennifer for any and all costs incurred in his enforcement of this provision. If the said payments or benefits arise as a result of any action or application by Arthur to alter the intent of this and the preceding paragraphs hereof, these costs shall include all solicitor costs and disbursements necessary to defend or negotiate the actions brought by Jennifer. Arthur agrees that he shall do all such things and sign all such documents as may be necessary to enforce the spirit and intent of this provision and to ensure that Jennifer shall retain intact any and all pension plan as if they had never cohabited.
Payment
12.01 Arthur agrees to pay to Jennifer the sum of $20,000.00 within thirty-one (31) days of the date of the marriage.
12.02 In the event that Jennifer challenges the validity of this agreement in any manner whatsoever, Jennifer agrees that she shall immediately repay to Arthur the sum of $20,000.00 plus interest at the rate of 6%, compounded annually, the calculation of the interest to commence on the date upon which Arthur paid to Jennifer the sum of $20,000.00.
Opt Out of Family Law Regime
15.01 Each party hereby waives and renounces any and all rights and claims which he or she may have now or in the future, to advance a claim in equity against the assets of the other, and more particularly, each party hereby waives and renounces the right to advance a claim by way of constructive trust, resulting trust, unjust enrichment, quantum meruit or other equitable remedy as against the other. This provision may be plead as a specific bar and complete defense to any such action.
15.02 The parties specifically intend and agree that The Marital Property Act including Part IV, The Homesteads Act, The Dependents Relief Act, The Homesteads, The Marital Property Amendment and Consequential Amendments Act, The Intestate Succession Act, The Family Maintenance Act, The Married Women’s Property Act, and corollary relief under The Divorce Act or any like legislation or law of Manitoba or the Government of Canada shall not apply to them, their estates and their property, except as specifically provided herein.
Indemnification
18.01 The parties hereto mutually covenant and agree each with the other that each shall save harmless and shall indemnify the other with respect to all and/or any breach or breaches of this Agreement including but not restricted to any fees, costs or disbursements incurred by the other party in defending or prosecuting any action resulting from the action of the other inconsistent with the provisions hereof, including any attempts to set aside, invalidate or vary any of the provisions herein, except where mutually agreed to in writing and executed with the same formality as this Agreement, and with independent legal advice.
Parties Understand Agreement and Rights; No Duress
23.01 The parties each acknowledge that:
(a) Arthur and Jennifer have each had independent legal advice and each has full knowledge as to the significant assets, debts and liabilities of the other;
(b) Each has read this Agreement in its entirety and has full knowledge and understanding of the contents hereof and signs the Agreement and accepts the same to be a satisfactory and fair settlement of the rights of the parties;
(c) Each understands their respective rights and obligations under this Agreement, the nature of this Agreement and the consequences of this Agreement;
(d) In signing this Agreement, each does so voluntarily and without undue influence, duress, fraud, coercion or misrepresentation;
(e) Each party represents that they are not suffering from any psychiatric, psychological or emotional impairment that would impact upon their ability to understand the nature, meaning or consequences of this Agreement.
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