Marriage Contracts: Pre-nuptial or Post-nuptial Agreements?

Marriage Contracts

These contracts are for those who are planning to get married (pre-) or are already married (post-nuptial). In Ontario law, we only have a 'marriage contract,' and this can be signed by a couple before or after their wedding. 

Pre-nup. or Post-nup?

From movies and television we often hear the term pre-nuptial agreement, so there is the mistaken belief out there that these types of protection contracts can only be signed before two people get married. In fact, you can also sign it after the wedding.

This type of contract allows a couple to agree on property or support. They can agree on different terms than what the default law may require.

For example, Ontario's Family Law Act has special rules for dividing what is called the "matrimonial home." Each spouse receives an equal share, regardless of who paid more of the expenses such as the down payment or mortgage loan. 

But with a marriage contract, a couple can agree to a different division of the matrimonial home's value if the relationship were to end. This contracting power is especially valuable to those who have already been divorced once or are on their second or third marriage and approaching retirement. They want to ensure that what is left of their assets (which have already been through prior divisions) will be preserved for their use.


Photo credit: Anastasia Shuraeva

Marriage contracts are also used to address specific issues such as debts incurred prior to marriage, family wealth that may be received from a parent's business, or looking after children from a prior relationship.

Find a family law lawyer serving the people of St. Thomas.

Location: St Thomas, ON, Canada

Comments

Post a Comment

Popular posts from this blog

Finding the Right Family Law Lawyer - A Follow Up Thought

Image
Something I've learned is that it's so important to take a prospective client through the estimated costs of pursuing a legal matter. There will usually be turns in the road. Photo credit: Jiang Hua While the costs are still estimates, a frank discussion between lawyer and prospective client prior to deciding on a retainer is crucial to a person's satisfaction level with the lawyer they choose. Also, it's crucial to understanding whether it's a good fit.  The costs of litigation can mushroom in a short time because there are so many things that are out of your lawyer's control, especially how a court will decide a procedural matter and what the other side will do. The expectations that are set early on will greatly impact the equality of your working relationship with your lawyer. You should be looking for this when on the initial consultation. I believe that in the intake phone call or questionnaire that you may be asked to fill out would not be the right time ...
Read more

Your Pet in a Separation or Divorce

Image
Your Dear Pet and Family Law  You've had a long and hard day. As soon as you walk in the door, there's your dog there to great you and so happy to see you. It's like therapy. But when two people separate, they will have to negotiate who gets certain property in the division or equalization of their assets. If they can’t agree, a court will decide.  The question comes up, Who gets the dog? If there’s more than one, Who gets which dog? And so on for whatever beloved pet or animal that we have had during the relationship. We have such a strong emotional connection with our pets. This is one more stressful aspect to layer on to the other aspects of separation and divorce that people have to deal with. The emotional support that one gets from their pet may be a major coping mechanism to see them through the divorce. Legal Status of Animals in Ontario In the eyes of the law, pets are personal property. There are laws that govern how we are to treat pets or how many we are permitt...
Read more

Steps in the Family Law Court Process: Step 1 - the Application

Image
Family Law Court Process: The Application If you start litigation in your family law matter, or if you are served with a court application or motion to change, there are several major steps along the road toward a judicial decision: Step 1: The Application Unless you have a court order or a signed contract, the way in which you would begin the court process is through an application. In discussion with your lawyer, you would decide what claim(s) to make and list the facts that you intend to rely on to support the claim(s).  If you are making claims that involve support or property, you will also have to prepare a financial statement that accompanies the application. Your lawyer will help you identify which type of financial statement and to gather the required supporting documents, which we generally call "disclosure." If your application includes a claim for decision making responsibility, you will also have to swear to a document called an affidavit for parenting matters, w...
Read more