Coming to agreement with your spouse or soon-to-be-spouse about the conditions of a pre- or post-nuptial agreement is both difficult to navigate and essential. It is not easy to talk or to think about what should happen if your marriage ends, even beforeit begins. The fact is, however, that many marriages end in divorce, and having an agreement in place outlining what happens in that case can make a huge difference, not just after a potential divorce, but in a healthy marriage, where clearly outlined agreements are essential to happy and peaceful coexistence. A lawyer from K&Y Law, P.C. can help you to navigate pre- and post-nuptial agreements in a way that best supports your marriage, as well as your own interests as an individual. Call our office today at 905-597-8529.
What Law Governs Marital Agreements, and How can a Lawyer Help?
The Family Law Reform Act, passed in 1978 and now continued in the Family Law Act governs all Marital Agreements in Canada, including what are known as “pre-nups” and “post-nups”. A “pre-nup” or pre-nuptial agreement, is a legal contract agreed to by a couple before getting married that typically outlines each party’s individual and joint assets, and sets out how those assets will be divided in the event of a divorce or a death. A “post-nup,” or post-nuptial agreement is the same kind of agreement, but is put in place after the marriage has already occurred. In both cases, the couple is agreeing to what will happen should their marriage end. A lawyer from K&Y Law can help to ensure that all aspects of the law are carefully followed, thus ensuring that your agreement will be honored by the courts, should it be needed in the future.
What Specific Aspects of a Pre-or Post Nuptial Agreement Can Cause It to Fail in Court?
Ontario’s Family Law Act “permits a court to set aside a prenuptial agreement or any portion thereof if a party failed to disclose significant assets or liabilities, if a party did not understand the nature or consequences of the contract, or otherwise, in accordance with the law of contract.” (Family Law Act, R.S.O. 1990, Ch. F.3., Sec. 56(4)). A lawyer from K&Y Law, P. C. will make certain that all conditions are met so that your pre- or post-nuptial agreement will have the best chance to stand in court, should it become necessary to enforce it.
Won’t Negotiating a Marital Agreement Kill the Romance in Our Marriage?
Discussing money and the possible demise of your marriage certainly does not set a very romantic scene. These discussions can be difficult, which is why hiring a lawyer to do the negotiating for you is the best path for both protecting your assets and keeping that spark alive. Call our Thornhill, Ontario office today at 905-597-8529.