In Ontario a marriage contract is commonly referred to as a “prenuptial agreement” (or “prenup”), and is governed by section 52 of the Family Law Act. It can be prepared either for two people who are married to one another or intend to marry one another. Before entering into a marriage contract, couples need to fully understand their rights and obligations as if no contract existed.
What are the benefits of a marriage contract?
- The contract will safeguard your pre-marriage assets;
- You can determine the ownership of assets purchased during the course of your marriage;
- You secure yourself from pre-marriage debts, financial issues outstanding loans that your spouse may have incurred prior to the marriage, etc;
The legal representatives at Joston Law can help you plan ahead; this can help you avoid a lengthy and complicated litigation if you decide to divorce your spouse. We can draft and negotiation the terms of your marriage contract in a timely and efficient manner.