More Canadians are signing prenups, co-habitation agreements before tying the knot

Prenuptial agreements have long been used by couples tying the knot for the first time when there’s wealth or a business involved, but they’re becoming increasingly popular among millennials marrying later in life and people entering their second marriages.

She said clients entering their second marriages, after having gone through the separation and asset-division process for their first relationship, have also partly driven the trend. Ms. Jenkins said this is often even the case when a couple elects to include clauses that would not typically be enforceable by a court, such as explicitly choosing to not to treat the matrimonial home as shared property and giving one party the first right of refusal to purchase their spouse’s interest in it. “Courts are reluctant to go beyond what’s in an agreement. You want to respect the autonomy of adults,” she said.

Co-habitation agreements a way to opt in to equalization Unlike married couples, common-law couples in most provinces aren’t entitled to equalization of family property at the end of a relationship, though British Columbia, Saskatchewan, Manitoba, Nunavut and the Northwest Territories have expanded introduced these rights. Equalization, which is determined based on a couple’s date of separation, entitles each partner to one-half of the value of accumulated family property.

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