Vancouver Mandarin Chinese Prenup Lawyer

A prenuptial agreement can protect you and even your future spouse in the event of death or a divorce. It’s an extremely serious matter and an important financial planning tool. 

If you or a loved one need a prenuptial agreement and are most comfortable speaking Mandarin Chinese, you’ve come to the right place. Our team of family law experts speaks fluent Mandarin.

We’ll work closely with you to help you understand your prenuptial agreement options, to help you draft a prenup that works for you, and to protect your interests throughout the process. Our fluency means you get the best possible understanding of the agreement and the process, and that you can ask questions at your leisure and expect to understand the answers perfectly. 

Who Should Get a Prenup?

Almost every couple can benefit from securing a prenuptial agreement. They protect you and give you the peace of mind that comes from knowing that you know exactly what will happen should the marriage end.

Prenuptials are especially important for high net worth couples, for women, especially those who intend to take traditional roles in the marriage, for business owners, and for those who own intellectual property. 

You should also consider one if you have children from a previous marriage. The agreement will have to take existing child and spousal support orders into account. 

What Goes into a Prenup?

First, the prenuptial agreement should outline exactly what will be considered premarital assets and debts. These do not get divided up in the event of a divorce and revert back to the original owner as long as those assets were not co-mingled with the marital property. It should also explicitly note that the party who owns those premarital assets and debts will pay those debts, pay associated taxes, or pay for the upkeep of those assets out of premarital assets. If you are choosing to make separate property into joint property that should be outlined in the agreement as well. 

There are also ways to phase in asset sharing as the marriage lengthens if you wish to eventually make your separate property accessible to your spouse. 

Next, you’ll want to make provisions for the children of previous relationships. A prenuptial agreement can be used, in tandem with a will, to make sure these children’s needs are met in addition to any children arising from the current marriage.

We have estate planning lawyers on our team, and can work with you to make sure that both your prenuptial agreement and your estate plan are consistent both with your wishes and with British Columbia law.

Next, you should outline how assets and debts will be divided in the event of a divorce. You can also stipulate that certain spousal support obligations will be met. You should be sure to address retirement accounts and investment accounts. 

Other financial obligations can also be listed, such as whether or not you and your spouse will keep a joint bank account, how debts will be managed, who will contribute to savings accounts and how much, and more.

The only things you can’t really put into a prenuptial agreement are child support and custody arrangements. These must be decided in accordance with income at the time of the divorce, as well as the best interests of the child at the time of the divorce. 

You also should avoid adding certain unenforceable provisions. You cannot, for example, create a legal obligation for your spouse to maintain a certain weight during your marriage. You cannot charge your partner an infidelity fine. Prenuptial agreements cannot be used to dictate conduct during the marriage.

The agreement must be written and signed by both parties. Oral agreements are not enforceable. 

How a Prenup Protects You

A prenuptial agreement helps to keep your premarital assets safe and sound in the event of a divorce. This is especially important if you want to ensure ownership and control of a business you built from the ground up, or if you own a valuable software license or fictional property that pays out royalties or other passive dividends. 

It can also help ensure that there are no future fights about alimony or spousal support, as provisions for a spouse’s future support will have already been outlined in your prenuptial agreement. 

Writing a Fair Prenuptial Agreement

A prenuptial agreement must be fair, or British Columbia courts will fail to enforce it. 

First, both parties must fully disclose all existing assets and liabilities. While it is perfectly acceptable to shield all pre-marital assets, your planned division of marital assets must acknowledge that both parties have a 50% right to those assets, and must divide them accordingly.

No prenup may make it possible for one party to walk away with everything while leaving the other party with nothing at all. 

FAQ

What makes a prenup invalid?

There are several reasons why a prenuptial agreement might be declared invalid.

• Too much deviation from the British Columbia Family Law Act. Some deviance by agreement is tolerated, but the overall agreement must be close to what the law wold already do.
• It is found that either spouse failed to disclose assets or debts, including all international assets or debts.
• The contract was signed under duress, including contracts that are signed on the eve of the wedding.
• Both spouses did not have their own lawyer protecting their own interests.
• The agreement no longer reflects the financial realities of either party. 
• The terms of the agreement are not fair.
• One spouse did not understand the nature or consequences of the agreement.
• Any history of abuse by either party. 
• Too many unenforceable provisions.
• If the judge finds enforcing the agreement would be significantly unfair given current circumstances, such as the disability or illness of one of the spouses, or one of the spouses taking near-sole responsibility for the children while the other ignores the children.

It is important to realize that a prenuptial agreement may always be challenged during divorce proceedings. If you already have one, you should have your lawyer carefully examine the agreement before moving forward. Nevertheless, for most couples the prenuptial agreement will be enforceable, thus saving a great deal of time and money during the divorce process. 

Should I be offended by a prenup?

Remember all marriages end eventually, either by divorce or by death. Being asked for a prenuptial agreement isn’t a sign that your partner doesn’t love you. 

A prenuptial agreement protects both partners. It is wiser to put emotion aside and to reach out to a Vancouver prenuptial agreement lawyer. 

Your goal should be to get the best terms which you can get and legally keep.

Is a prenup void after ten years? 

Most prenuptial agreements include a sunset clause, a date after which the prenuptial agreement is to be revised, or allowed to expire. Ten years is a little too long; we recommend revisiting a prenuptial agreement every five years.

This is because assets and circumstances change, and a prenuptial agreement doesn’t help you very much if it doesn’t reflect you and your spouse’s current financial reality. 

How much does a prenup cost in BC? 

Much depends on the complexity of your assets, as well as your spouse’s. We’ve done prenuptials agreements for as little as $2,500 and for as much as $10,000.

Compared to the cost of a divorce, however, a prenuptial agreement is priceless. A divorce can cost $30,000 to $45,000 if there is a great deal of contention, and in most high net worth divorces the argument is over the very things a prenuptial agreement covers: the division of assets and spousal support.

When should a prenup be signed?

We recommend working out the prenuptial agreement and signing it six to nine months before the wedding day. The closer to the wedding the more chances that the wedding itself can be seen as a tool of social coercion, and any hint of coercion can make courts reject your agreement.

You also want to choose a time when neither party is feeling emotional, and treat this process as just another step in the process of getting married. 

What is a postnuptial agreement?

If you did not sign a prenuptial agreement before you got married, it is not too late. You can sign a similar agreement after you get married, and treat it as a normal part of the financial planning process.

Even though you are married, both parties still will require their own lawyer to create a postnuptial agreement. 

Get Help Today

Complex asset profiles require complex legal solutions. If you are planning on getting married, reach out to our law offices today. We are happy to hear about your goals for your prenuptial agreement, as well as to answer any questions you might have. 

We will help you craft a fair, enforceable prenuptial agreement that will protect your interests. 

Chinese Lawyer Vancouver serves clients in Vancouver, Abbotsford, Langley, Surrey, and White Rock. Call to set up an appointment today.