When a marriage begins to sour, one or both parties may wonder what they will end up with in terms of property. One way to prevent the uncertainty is through the use of a marriage agreement.
A marriage agreement, which is often referred to as a prenuptial agreement, is a legal document that is drafted before the marriage takes place. If it occurs after the wedding, then it is referred to as a post-nuptial agreement. The purpose of this agreement is to settle matters such as the division of property should the couple separate and divorce. A prenuptial agreement can be an asset to any married couple when drafted properly; however, it is a very wise choice when there is extensive income or property or when one party wishes to protect his or her assets for children from a previous relationship.
At Creighton Law LLP, we cannot only help you reach important decisions regarding the division of property, but we can also help with matters involving spousal support and other matters relating to your relationship. There are some decisions that cannot be included in a prenuptial agreement, such as child custody and support.
We understand that creating a prenuptial agreement is not a romantic thing to do before your wedding; however, it can prove immensely beneficial should the agreement need to be used during a divorce. Because of the highly emotional nature of divorce, a prenuptial agreement can also help limit the legal battles that divorce often brings.
To learn more about prenuptial and post-nuptial agreements in Ontario, please visit our webpage on the subjects.