Couples that plan to get married in Ontario can have a marriage contract done up for them by a lawyer. Such rules as property division and spousal support may be included in a marriage contract if a separation or divorce is to arise in the future.

Many couples have a common questions before drafting up a marriage contract: what should be included in this contract?

• Defining what property is separate and what is equal property, also known as community property
• Clarify agreements between the spouses.
• Establish how future matters will be decided.
• Support your estate plans.

Your family lawyer has the experience to ask all the right questions to a couple, so nothing is left out of the marriage contract.

  NO HIDDEN COSTS

Yes, as long as the prenup is valid, it is 100% enforceable in Ontario.

Speaking to your family lawyer about what you would like a prenup agreement to read is the best way to protect yourself in the future shall a couple decide to split up.

There are generally three reasons why a couple may decide to have a marriage contract.

First, if one spouse is coming in far wealthier then the other. It is a fair way to exclude certain property shall a divorce come in the future. The said individual obtained their wealth before they had met their partner therefore, they wish to protect their assets before marriage.

Second, a marriage contract can be used to establish an arrangement in advance for financial support if the relationship comes to an end. For example, one spouse may want to ensure that their partner will provide fair spousal support if the relationship ends in divorce. Alternatively, the other spouse may wish to cap the paid amount and duration of support paid.

Thirdly, a marriage contract can be used to make legal agreements for the division of property and money earned throughout the marriage, known as community assets.

It is highly advised that a couple who have decided to enter into a marriage contract speak to an experienced family lawyer who has the legal knowledge and understanding for these types of family contracts.

If you are looking for advice, contact Legal Solutions Law Firm today for a free consultation and let us help you.

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