NewsTalk 1010: The Cost of Not Having A Prenup - Insights from Shulman & Partners

High-profile divorces often spark broader conversations about financial planning and relationship breakdowns. Recent media coverage surrounding Johnny Depp’s divorce and financial disputes has renewed public interest in prenuptial agreements and how they function under Canadian family law. While celebrity cases attract attention for their scale, the underlying legal issues are familiar to many Ontario couples. In this NewsTalk 1010 interview, Shulman & Partners LLP offers practical insight into why prenuptial agreements are becoming more common, how they differ in Canada compared to other jurisdictions, and what they can realistically protect. The discussion highlights that marriage contracts are not about anticipating failure, but about creating clarity and predictability in relationships where assets, family wealth, or business interests are involved.

Using Johnny Depp’s refusal to sign a prenuptial agreement as a starting point, the interview explores why marriage contracts can play a critical role in managing risk and expectations. Shulman & Partners LLP explains that in Canada, a prenuptial agreement allows couples to privately determine how financial matters and spousal support would be addressed if the marriage ends.

The conversation emphasizes that prenups are no longer reserved for celebrities. They are increasingly used by couples entering second marriages, individuals with family assets or inheritances, business owners, and younger couples whose parents have contributed financially to property purchases. In these situations, a marriage contract can help distinguish personal assets from marital property and reduce uncertainty later on.

The interview also addresses common misconceptions. Many people believe that a prenup signals a lack of trust or undermines romance. Shulman & Partners LLP reframes the discussion, noting that marriage contracts function much like wills or insurance policies. They are tools designed to plan for uncertainty, not predictions of failure.

Ontario’s approach to property division is also clarified. While assets owned before marriage are generally protected, the matrimonial home is treated differently and often becomes fully divisible unless a marriage contract states otherwise. This exception frequently surprises couples and underscores the importance of understanding the law before marriage.

The discussion further touches on postnuptial agreements, which can be used when financial circumstances change after marriage, such as a sudden increase in income or the acquisition of significant assets. Regardless of timing, the interview stresses that full financial disclosure, adequate preparation time, and independent legal advice are essential for a valid agreement.

Listen to the full NewsTalk 1010 segment here.

This media appearance is part of Shulman & Partners LLP’s ongoing contributions to Canadian family law discussions. Explore more of our media features in our In the Media  archive.