Cohabitation Agreements and Marriage Contracts
Why Get a Prenuptial (Prenup) Agreement?
A prenuptial agreement or cohabitation agreement and marriage contract is a good idea for couples who want to outline in advance what will happen to each partner’s assets and financial situation if the relationship breaks down. Prenuptial agreements, or ‘prenups’ as they are commonly called, can be entered into and are legally enforceable for both same sex marriages and opposite-sex marriages.
No one likes to think about the negative possibilities of separation and divorce when they are just committing to a lifelong marriage. However, if you are considering a prenuptial agreement, it is important to have independent legal advice from an experienced family lawyer.
DivorceSupport.ca Family Law Practice Divorce and Family Lawyers in Toronto can help you draft a prenuptial agreement or enforce one if you are separating or divorcing.
What is Included in Prenuptial Agreements?
Typically, you would have a family lawyer develop a prenuptial agreement, cohabitation agreement or marriage contract, before you get married, to spell out things like:
what property you are bringing into your marriage;
how your personal property and your family property will be dealt with on separation or divorce;
your and your partner’s separate debts;
details about spousal support.
Other areas to cover in your prenuptial agreement might include what happens to your assets if you die, and how your children from a previous marriage will be dealt with if you and your intended partner separate.
In Ontario, family law states that you cannot include the matrimonial home in a prenuptial agreement. A family law lawyer at DivorceSupport.ca can explain all of the legal requirements about your separate and family property and other issues to be included in your prenuptial agreement to make it enforceable if your relationship ends.
Call or email DivorceSupport.ca Family Law Practice Family Lawyers to discuss your need for a prenuptial agreement or help with enforcing your contract during your legal separation or divorce.