Services
Marriage Contract
Marriage is grand. Divorce is a hundred grand.
Quick Facts
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Marriage contracts are also known as pre-nups
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If parties "forget" to provide all their financial information, courts may deem the agreement unenforceable
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Marriage contracts survive death
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Provisions regarding child access and custody are not enforceable
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You can include terms regarding the religious upbringing of the children
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there are numerous structures for property division that parties may want to consider - as oppose to 50/50 split as provided in the Family Law Act
The law treats marriage as an equal economic partnership. Simply put, on the breakdown of the marriage the value of property is divided between the parties, both parties have equal access to the family home, and there is allocation of financial support for spouses and children.
A marriage contract allows the parties to create their own agreement, which may be different from the general rules set in the Family Law Act. In Ontario, a marriage contract can be created before or during marriage. There are of course limits as to what the parties can agree to in the contract.
You can deal with
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ownership in or division of property;
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spousal support obligations and release of spousal support rights;
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the right to direct the education and moral training of children;
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agreement to unequal division of assets and/or excluding property;
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excluding business interests;
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inheritance received or allocated before marriage;
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increase in value of property, income from property;
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limiting one’s debt liability; and,
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details of each spouse’s responsibility during marriage.
Provisions regarding right to custody or access to children should not be included since they are not enforceable. Neither is a provision restricting a spouse’s right to possession of the matrimonial home.
It is very important that both parties understand exactly what the contract states and it’s consequences. Both parties should receive independent legal advice and exchange financial information before signing the contract.
Failure to follow the requirements in drafting and executing the agreement may make the agreement unenforceable.
Marriage Contract Flat Fee
($850.00+hst)
We provide Marriage Contracts at a reduced flat fee to help couples begin their relationship on the right foot.