Tag: What a Marriage Contract Can and Cannot Cover
Legal Pitfalls to Avoid When Drafting Marriage Contracts
Understanding Marriage Contracts in Ontario
Definition and Legal Framework under Ontario’s Family Law Act
Under Ontario’s Family Law Act, a marriage contract is a legally binding agreement between two people who are married or plan to marry. It allows them to make decisions about property division, spousal support, and financial responsibilities. However, there are strict rules regarding its enforceability.
For a marriage contract to be valid:
- It must be in writing and signed by both parties.
- It must be signed in the presence of a witness.
- Both parties must provide full financial disclosure before signing.