Say yes to the prenup? Why younger Canadians feel the love amid uncertainty

More than half of Gen Z Canadians say they'd want their partner to sign a prenup if they got married or entered a common-law relationship, a recent survey by TD Bank shows.

In a 1996 Seinfeld episode, the character George Costanza devises a hare-brained scheme to get out of an engagement – he asks his fiancée to sign a prenup.

The premise of his plan, which ultimately falls apart, is that his fiancée would see it as a red flag and break off the engagement. But times have changed in the 30 years since that episode aired.

Now, more than half (51 per cent) of Gen Z Canadians say they’d want their partner to sign a prenup if they got married or entered a common-law relationship, a recent survey by TD Bank shows.

This is significantly higher than the national average of 28 per cent.

“They are much, much more comfortable having these conversations than older Canadians,” said Jeet Dhillon, senior portfolio manager at TD Wealth Management.

You could call it a prenup, a prenuptial agreement or a cohabitation agreement, but the underlying sentiment is the same: a legally binding written document signed by two romantic partners before they marry or enter into a relationship, be it marriage or a common-law partnership.

It lays out how financial assets, debts, real estate and benefits will be split in case the couple break up.

This preference is, in part, because Canadians are getting married later in life, said Alexa Turner, family lawyer and mediator at Toronto-based law firm Resolve Dispute Resolution.