For many years, prenuptial agreements were viewed as something reserved for the ultra-wealthy or those entering a second marriage. Today, that perception is changing. Increasingly, couples are recognizing that a marriage contract is not about planning for divorce—it is about thoughtful financial planning.
The nature of wealth has changed dramatically over the past two decades. While previous generations were primarily concerned with protecting a family cottage, investment portfolio or business, today’s couples often bring entirely different assets into a marriage. Intellectual property, digital businesses, online revenue streams, cryptocurrency, valuable domain names, patents, trademarks and other intangible assets can represent a significant portion of a person’s net worth.
As wealth evolves, so too must the conversations couples have before they marry.
Marriage Is Both a Personal and Financial Partnership
No one purchases homeowner’s insurance because they expect their house to burn down. Likewise, entering into a marriage contract does not mean a couple expects their relationship to fail.
Rather, it allows both parties to discuss financial expectations openly, honestly and fairly while they are working together—not during one of the most emotionally difficult periods of their lives.
For many couples, the process of preparing a marriage contract encourages discussions about financial goals, debt, inheritances, future business plans, retirement expectations and family responsibilities that might otherwise never occur.
Those conversations alone can strengthen a relationship.
Today’s Assets Look Very Different
Many Canadians now build wealth in ways that barely existed a generation ago.
A successful YouTube channel, podcast, online coaching business or e-commerce company may generate substantial income. Likewise, intellectual property—including books, software, photographs, trademarks and licensing agreements—can continue producing revenue for years.
One important question becomes whether those assets should remain the property of the spouse who created them, or whether future growth during the marriage should be shared.
The answer will depend on the couple’s intentions, but a carefully drafted marriage contract can provide clarity long before disagreements arise.
When Your Personal Life Is Part of Your Business
The rapid growth of the creator economy has created entirely new legal issues.
Many businesses today are built around an individual’s personality or family life. Couples may appear together in podcasts, social media videos, advertising campaigns or online courses. A spouse’s participation may contribute directly to the value of the business.
If the relationship later breaks down, difficult questions can arise.
Can previously published content remain online? Who owns photographs and videos featuring both spouses? Who receives future advertising revenue from content created during the marriage? What happens to licensing agreements built around the couple’s public image?
While these issues are still developing, they illustrate how modern assets require modern planning.
Family Planning Can Raise Legal Questions Too
Advances in fertility treatment have also introduced issues that previous generations rarely considered.
Couples undergoing in vitro fertilization may create frozen embryos before or during marriage. If the relationship later ends, disagreements can arise over their future use.
Although fertility clinics generally require consent documentation, those forms may not address every circumstance that could develop years later.
Some couples choose to address these matters within their marriage contract or through a separate agreement, helping provide certainty during what could otherwise become highly emotional litigation.
Recognizing Non-Financial Contributions
Marriage contracts are often criticized as protecting only the spouse with greater wealth. In reality, they can benefit both parties.
One spouse may decide to leave the workforce to raise children, support the other’s career or relocate for employment opportunities. Those decisions frequently involve significant financial sacrifice, including lost income, pension contributions, career advancement and future earning potential.
A thoughtfully drafted marriage contract can recognize those contributions by establishing fair financial protections should the relationship eventually end.
The Canadian Perspective
In Ontario, couples may enter into a marriage contract under the Family Law Act. These agreements can address many financial issues, including ownership of property, division of assets, spousal support and financial responsibilities during the marriage.
However, marriage contracts are not immune from court scrutiny. A court may refuse to enforce all or part of an agreement where there has been inadequate financial disclosure, improper pressure, a lack of independent legal advice or other circumstances that undermine the fairness or validity of the agreement.
For that reason, every marriage contract should be carefully prepared with full financial disclosure and independent legal advice for each party.
Looking Ahead
Marriage contracts have evolved alongside society. As Canadians increasingly build wealth through entrepreneurship, intellectual property and digital businesses, the need for clear financial planning has never been greater.
Far from being a sign of distrust, a well-drafted marriage contract reflects transparency, communication and careful planning. It allows couples to make important financial decisions while they are united, rather than leaving those decisions to a court if the relationship later breaks down.
For many couples, that may be one of the wisest investments they make before saying, “I do.”
This article was inspired by reporting by Sarah Lyon in The New York Times, “From Crypto to Embryos: How the Prenup Has Evolved”.?
