Tag: How a Marriage Contract Safeguards Assets
Protecting Inheritance and Family Gifts through Marriage Contracts
Why Protect Inheritance and Family Gifts?
Inheritance and family gifts often carry both financial and sentimental value. In Ontario, these assets may be excluded from division during a divorce — but only under specific circumstances. Understanding how the law treats them, and how a marriage contract can provide extra protection, is crucial for anyone entering marriage with significant family assets.
Excluded Property under Ontario Law
Under the Family Law Act, certain types of property are excluded from the calculation of Net Family Property (NFP) when spouses separate. This includes:
- Inheritances received during the marriage.