Tag: Who Needs One in Ontario
What is a Marriage Contract and Who Needs One in Ontario?
When Can You Create a Marriage Contract?
Before Marriage (Prenuptial Agreement)
A prenuptial agreement is a type of marriage contract that is signed before a couple gets married. In Ontario, this type of agreement allows partners to decide in advance how to divide property, debts, and other financial matters in the event of separation or divorce.
Why Consider a Prenuptial Agreement?
- Protect Individual Assets: If one partner has significant assets (e.g., real estate, investments, a business), a prenup can help protect these assets.
- Clarify Financial Roles: A prenup sets clear expectations about financial responsibilities during the marriage.