Category: Marriage Contract
The Benefits of Having a Marriage Contract in Ontario
What is a Marriage Contract?
Definition and Legal Basis under the Ontario Family Law Act
A marriage contract is a legally binding agreement between two spouses, often signed before or during marriage, that outlines how financial matters will be managed during the marriage and in the event of a separation or divorce. In Ontario, marriage contracts are governed by Part IV of the Family Law Act. This legislation provides the framework for family law matters, including spousal rights and obligations.
How Marriage Contracts Can Protect Pre-Marital Assets
When entering into a marriage, many couples overlook the importance of safeguarding their pre-marital assets. A marriage contract, also known as a prenuptial agreement, is a legal document that can offer essential protection for those assets in the event of a divorce. If you’re considering getting married in Toronto, consulting with a knowledgeable divorce lawyer can help ensure your pre-marital assets remain secure. Here’s why protecting pre-marital assets with a marriage contract is crucial.