October 14, 2015If a spouse operates or owns a family business, one strategy to protect that business would be to enter into a marriage contract that contains a waiver by the non-owner spouse of the owner spouse’s interest in the business.
October 04, 2015The article discusses the high profile case of McCain v. McCain (currently on appeal to the ONCA). After 15 years of marriage, the spouses entered into a marriage contract under which the wife waived her equalization and support rights..
October 04, 2015In Ontario, there is a default statutory regime that governs matrimonial property. However, if a couple preparing to wed or an already married couple wishes to avoid the default statutory regime, the couple may opt out of the regime by signing a marriage contract in which the couple shapes its own rights regarding property division.
October 02, 2015A marriage contract can save grief and tension between two splitting parties. By outlining the terms, prior to the dissolution of the relationship, and before the relationship/marriage begins, both parties will be very aware of the division of assets should the marriage fail.
September 29, 2015The idea of creating a prenuptial marriage contract may sound unromantic but it is an idea that is quickly becoming quite common. The article draws an analogy between a seat belt and a marriage contract - you put one in place and hope you will never need it, but if you do, you're glad it is there.
September 22, 2015People who marry later in life and have accumulated assets (or debts) or are entering second marriages and have experienced the process of an acrimonious division of assets, are among those who may benefit most from a marriage contract. The question often posed is, 'Will this contract actually protect my assets or income?'
September 21, 2015Parties may enter into marriage contracts to address issues they could face during their marriage and that may arise upon the breakdown of marriage.
September 17, 2015Parties usually enter into marriage contracts to protect their property and finances in case of a breakdown of marriage. Thus, many marriage contracts deal with property division and support.
September 12, 2015Lawyers who accept independent legal advice (ILA) mandates with respect to domestic contracts should not assume this task lightly and should take the time to analyze all the terms of the proposed marriage contract and ensure that the client fully understands their consequences.
September 07, 2015Some may think entering into marriage contracts is a recent trend. However archeological evidence shows the contrary: marriage contracts have been around for quite some time - since ancient Egyptian times!
September 03, 2015Many farm owners have a personal, emotional, and familial attachment to their farm. For this reason, it is especially important for farm owners to consider protecting their farm upon marital breakdown.
September 02, 2015Under subsection 56(4) of the Ontario Family Law Act (FLA), a court may set aside a marriage contract if it finds that there was a failure to disclose significant assets and liabilities at the time a marriage contract was made.