|| Author: Duncan Riley|

Prenuptial Agreement Finances

If you decide to protect your finances before you get married, there are a few things to consider when building your marriage pact. Many of these questions depend on the financial personality of you and your partner. CIBC Private Wealth`s Wealth Your Way podcast series is an educational offering for customers and their children and demonstrates our commitment to the development of the emerging generation. Listen to the podcast on marital agreements here. You`ll also find more informative podcasts to help emerging professionals manage their personal financial journeys. Once these issues are discussed, you are ready to prepare the preparation. You must choose to draw up the marriage agreement yourself or seek the assistance of a lawyer. Although most marital arrangements are financially motivated, they can cover almost anything the couple attributes to monetary or sentimental value, such as family items, artwork or collectibles. A matrimonial contract should not cover the entire estate of the couple, but may be limited to a single asset, for example a house.B. At the same time, a marital agreement may include hypothetical future assets, such as .

B an expected legacy. The cost of establishing a marriage contract generally depends on the amount of assets you cover and the complexity of the agreement. In a marriage contract, it`s not just about claiming what`s yours, and that doesn`t mean you don`t trust your important person or vice versa. On the contrary, a conjugal agreement can be an exercise in building trust. A well-designed marriage agreement can serve as a basis on which a couple can build a long-term financial plan by helping them make decisions in advance and meet expectations for the future. Getting a marital deal is not often the first thing that many couples have in mind after deciding to tie the knot. But in some scenarios, it may be essential. Many experts believe that marital agreements should be limited to financial matters. They propose that non-financial issues, such as household and child care, should be dealt with in a different way. A marriage agreement protects the property rights and obligations of any partner by deciding (before marriage) which assets are marital property and which assets remain separated in the event of divorce.

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