You can hire the best lawyer, use the most advanced platform, and negotiate the most balanced terms, and your prenup can still be thrown out if one partner didn’t fully disclose their finances.
Financial disclosure is the foundation of every enforceable marriage contract in Canada. Courts won’t uphold an agreement where one person didn’t have the complete financial picture. It’s that simple.
Here’s how to get it right.
What You Must Disclose
Full financial disclosure means providing a complete and honest picture of your financial life. This includes all income sources (employment, self-employment, rental income, investments, side hustles). All assets: real estate, vehicles, bank accounts, investment accounts, RRSPs, TFSAs, pensions, business interests, cryptocurrency, digital assets, and valuable personal property. All debts: mortgages, lines of credit, credit cards, student loans, car loans, tax debts, and any personal loans. Expected future assets: anticipated inheritances, trust distributions, or pending insurance claims. Business interests: ownership stakes, partnership agreements, and estimated business values.
It is important that you do not omit categories. Hiding a bank account, understating business income, or “forgetting” a piece of property can void the entire agreement.
How to Document Your Disclosure
The best practice is to attach a financial statement or net worth statement to the prenup as a schedule. This creates a clear, dated record of what each partner disclosed at the time of signing. It should include specific values, account numbers (or at least identifying information), and dates. Some couples attach supporting documents: recent tax returns, bank statements, property appraisals, or business financial statements. While this isn’t legally required in Ontario, it strengthens the agreement significantly. Online platforms like I Do Prenup build financial disclosure into the agreement process. Both partners are prompted to enter their income, assets, and debts as part of the questionnaire, and the resulting information is incorporated into the final document. To see how this works, visit How It Works.
What Happens If You Don’t Disclose
Non-disclosure is one of the most common grounds for setting aside a marriage contract in Ontario. Courts treat it seriously because the fundamental fairness of any contract depends on both parties having access to the same information.
The consequences can be severe. A court can void specific clauses that were affected by the non-disclosure, or it can set aside the entire agreement. If the non-disclosure was deliberate, it may also affect the court’s view of the disclosing party’s credibility in other aspects of the divorce proceedings.
Even unintentional omissions can be problematic. Forgetting to mention a small investment account or an old retirement plan from a previous employer may seem harmless, but if it’s discovered later, it gives the other party grounds to challenge the entire agreement.
Common Disclosure Mistakes
Beyond deliberate concealment, there are several common disclosure mistakes that couples make inadvertently. Failing to disclose pension entitlements is one of the most frequent. Many people don’t think of their employer pension as an “asset,” but it often represents their single largest financial holding.
Cryptocurrency and digital assets are another common blind spot. If you hold Bitcoin, Ethereum, or other digital currencies, they must be disclosed even if the amounts are modest. The same applies to stock options, restricted share units, or other equity compensation that may not have vested yet.
Business owners sometimes understate the value of their companies, either through ignorance or wishful thinking. If you own a business, even a small one, disclose it and provide a reasonable estimate of its value. A formal valuation isn’t always necessary at the prenup stage, but a good-faith estimate is essential.
Disclosure and Privacy Concerns
Some partners are uncomfortable sharing detailed financial information, especially early in a relationship. This is understandable, but it’s not optional if you want an enforceable prenup. A marriage contract requires transparency, and that’s part of its value. The process of disclosing forces both partners to be fully honest about their financial situation, which is a conversation every couple should have before marriage anyway. For more on why these conversations matter, read The Psychology of Prenups: Why Talking About Money Builds Stronger Marriages.
When to Complete Your Disclosure
Financial disclosure should be completed before the agreement is finalized and signed. Both partners should have adequate time to review the other’s disclosure, ask questions, and seek clarification before committing to the terms. Rushing this step, or completing it after the agreement is already signed, undermines the entire purpose.
If your financial situation changes significantly between disclosure and signing (for example, you receive a bonus, sell property, or take on new debt), update the disclosure. A stale or inaccurate disclosure is almost as bad as no disclosure at all.
Get your disclosure right from the start. Build your marriage contract at I Do Prenup.
Frequently Asked Questions
Q: Do I have to disclose everything for a prenup?
Yes. Full financial disclosure, including all income, assets, debts, and expected future assets, is essential for an enforceable marriage contract in Ontario.
Q: What if I accidentally forget to disclose something?
Even unintentional omissions can be grounds for challenging the agreement. Be thorough, and update your disclosure if circumstances change before signing.
Q: Does my partner get to see my exact bank balances?
Yes, but only your partner and any lawyers involved. The information is part of a private legal agreement, not a public record.