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Marriage agreements: Prenups helpful for those remarrying

Prenuptial agreements can be a good idea for those marrying for the second or even more times. When it comes to marriage agreements in Ontario, a prenuptial agreement may work well for those who have amassed their own assets and who are going into second or third marriages. These contracts give financial transparency to the union and clarify what's what and may be especially important if there is blended family involved.

Communication is key to any good relationship and talking about finances and what each individual would like to have happen in the future, so a prenuptial agreement will just formalize those communications. A prenuptial agreement can be fashioned to meet a couple's individual needs and doesn't have to be all or nothing. There is no place for resentment in a positive prenuptial agreement.

A prenuptial agreement can state specifics. It can change within the marriage to become a marriage contract and can reflect a couple's time spent together, especially if that has been for years. An marriage agreement can speak to such issues as a family business or inheritances.

Marriage agreements don't mean a marriage will ultimately end in divorce. They're taking care of business in a "what if" situation. An Ontario lawyer can help a client to draw up an agreement that meets his or her particular needs or help to enforce a contract already in existence. If the couple is living together, but unmarried, a lawyer can also help to fashion a cohabitation agreement that reflects the couple's unique situation.




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