Hi proactive,
Yes, it may seem excessive, especially considering that neither party has an automatic right to the other's solely owned assets. I would say the only reason most CL couples exchange disclosure is due to owning valuable joint assets or complicated/excessive joint debt.
An agreement is valid when both parties have executed same before a witness. While you may legally sign the agreement in front of only one witness, it's best if each party sign before their own witness. This will make any future claims of duress or coercion difficult to prove.
So to answer your question, the exchange of financial documents is not necessary for an agreement to be legally binding. It is, however, something to consider.
Lindsay
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