A question Re: Prenuptial Agreement

[Newbie44]

Hello - I had a question regarding the usefullness of a prenuptial agreement in my particular circumstances - I am currently a Medical Intern grossing about 60K yearly. In about 3-4 years time - I will have completely my training in a subspecialty that pays about 500K gross per year. My assets are minimal - an RRSP that is worth 1,500$ and my debts are substancial - approximately 75K (debt from Med School) -

My significant other, whom I met after I completed Med School (I was an intern at that time) earns significantly less than me and will likely never earn as much (75K maximum)- despite working full time - which is what we both plan to do - She has no debts or assets.

Is it worth my time to get a prenuptial agreement? Would I be able to protect certain assets like my RRSP (which I plan to invest heavily in) and perhaps protect myself from paying spousal support - considering neither of us are planning on making significant career sacrifies and both of us have completed our education? Also - would a Prenuptial agreement protect my future assets such as a future business/practice and future investments?

Thanks
Newbie44

 

[dadtotheend]

Is it worth my time to get a prenuptial agreement?

Uhhh, yes absolutely.

You would be crazy not to at least get a consultation with a lawyer regarding marriage contracts. Google that term and then call the Law Society of Upper Canada for a free half hour telephone consultation.

You probably won't be able to bargain away SS absolutely. Imagine if you were married for a long time (greater than 15-20 years), with or without children and she builds a life with you based on your income, then you split. Some SS would be in order. Attempting to contract out of SS completely would not at all be reasonable and way down the road it could well be cause for a court to view you quite harshly.

You lawyer will probably advise you to craft something up that builds in an escalating duration and quantum of SS the longer you are together (that's what a lot of rich people do - Tiger Woods). But at least you will be contracting in some certainty around the SS, which is as uncertain an area of family law as you get.