Marriage Contracts for Second Marriages in Toronto | Key Considerations

Marriage Contracts and Second Marriages

Why a Marriage Contract is Important in Second Marriages

Protecting Pre-Marital Assets

In second marriages, both partners may enter the relationship with existing assets, such as property, investments, or businesses acquired from previous relationships. A marriage contract allows couples to clearly define which assets are to remain separate property and which will be shared in the marriage.

Key Considerations:

  • Family Law Act Provisions: In Ontario, the Family Law Act governs property division. Without a marriage contract, assets accrued during the marriage are generally split equally in the event of a separation. A marriage contract can specify that certain pre-marital assets remain protected.