A marriage contract between spouses is a written domestic contract which mentions how their issues will be resolved during and at the end of their relationship. A married contract can be made between two spouses who are legally married to each other.
As per Canadian divorce laws, marriage is deemed as an equal partnership. At the end of a marriage, all assets are equally divided in the absence of any marriage contract declaring otherwise.
What are Cohabitation Agreements?
Common law spouses can formulate a cohabitation agreement, which is deemed to be a marriage contract after the spouses marry each other legally.
What should be included in the Marriage Contract?
This agreement generally mentions all the details regarding the education and moral training of their child, ownership of assets and property division in the event of the spouses’ separation or death of any spouse.
To be correctly drafted and signed, a marriage contract should satisfy the below conditions:
- The marriage contract should be in writing;
- The marriage contract should be signed by both parties;
- The signature of the spouses must be witnessed;
- Complete and accurate information and full disclosure must be present in the negotiations leading to the signing of the marriage contract
What cannot be included in a Marriage Contract?
There are certain issues which cannot be included in a marriage contract.
- All issues related to children’s custody and access cannot be there in a marriage contract. Decisions regarding the children’s issues need to be made keeping in mind the best interests of the child.
- Any clause in the marriage contract cannot change the equal right of each partner to live in the family home even after they separate.
Are marriage Contracts legally enforceable?
If a marriage contract exists and has been drafted and signed accurately, it is legally binding on both the spouses. In the event any one spouse does not adhere to the marriage contract, the other spouse has the right to go to the court to get the marriage contract legally enforced.
It is advisable that both spouses’ take the independent legal advice to understand the marriage contract before they put their signatures on it. This will help them to understand the implications of the clauses in the contract and safeguard their best interests.
How We Can Help
At Nanda & Associate Lawyers, our excellent Family Law lawyers help in making effective representation for marriage contracts. They understand your specific circumstances and provide tailored and customized solutions for each of them. Many legal complexities exist in drafting marriage contracts and cohabitation agreements, and an experienced family law lawyer can help you to navigate better.
Our Mississauga Family Law Lawyers are available for a no-obligation free consultation. Come and experience our quality legal counsel and personalized care we give to each client.