The Telegram (St. John's)

Post-nups growing in popularity, say lawyers

- BY TARA DESCHAMPS

When Canadian heartthrob Justin Bieber secretly married model Hailey Baldwin last year, tabloids said they didn’t bother with a fancy ceremony or a prenuptial agreement to protect their millions.

“He was an idiot not to get a (pre-nup), but we have seen Justin do a lot of stupid stuff,” joked Farrah Kohorst, a Calgary-based lawyer specializi­ng in family law.

But according to Kohorst, 24-year-old Bieber — estimated to be worth $265 million — and 22-year-old Baldwin — rumoured to be worth $3 million — aren’t out of ways to keep their future earnings protected from each other, if they desire.

Kohorst and other experts say the key to safeguardi­ng assets when you didn’t sign a pre-nup lies in a little-known agreement that is growing in popularity: a post-nup.

Often called a marriage contract under the Family Law Act, a post-nup can be signed before or after a wedding and can include clauses to decide what will happen to money, real estate, inheritanc­es and pets if a marriage is dissolved.

Kohorst and other lawyers Justin Bieber watches alongside his wife Hailey Baldwin during NHL action between the Philadelph­ia Flyers and the Toronto Maple Leafs in Toronto on Nov. 24, 2018.

say most people are prompted to sign a post-nuptial agreement at the behest of their parents or because they want to embark on a financial venture their spouse isn’t keen on sharing the risk for, they suddenly snag a large inheritanc­e or gift they want to keep from their partner or they simply ran out of time to draw up a pre-nup while preparing for their big day.

“I did one recently where the husband found out about a bunch of debt the wife had run up and he wanted nothing to do with that because it

wasn’t disclosed to him,” said Kohorst. “I really pump these to my friends and family because we are looking at 40 per cent divorce rate and 60 per cent common-law breakdown (in Canada).”

She often recommends couples who are trying to figure out what to put in a post-nup focus on their goals and think about whether children, new businesses or windfalls are headed their way. If someone agrees to waive their spousal support and not share property that is jointly held, Kohorst often suggests a settlement where the amount of money they receive for the dissolutio­n of their marriage is based on the length of the relationsh­ip or is a portion of the net value of their assets.

She also advises clients to look out for conduct provisions — clauses surroundin­g infidelity, weight gain and a minimum number of times a week or month a spouse has to agree to sex. They’re popular in the U.S., but are usually frowned upon and often not relevant to legal rights in Canada, she adds.

Kohorst also said most clients don’t realize post-nups aren’t boilerplat­e documents that can be drawn up in a few days on the cheap. Most take more than one meeting and require several financial disclosure­s.

“There is a difference between marrying somebody you think is worth $1 million, when they are really worth $50 million,” she said. “You might get a different deal.”

In rush scenarios, Kohorst has seen post-nups come together in six to eight weeks and in situations with prominent families with plenty to protect, she’s charged up to $60,000 to represent her client.

However, most people will spend a few thousand dollars for agreements that take three to four months to draw up.

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CP PHOTO

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