One of the most important things any couple can do before they wed is protect their assets. No matter your financial situation, a marriage comes with benefits and risks. If you want to protect your interests and the interests of your partner, marital agreements can be helpful contracts that address key issues before they ever arise.
The Riley Divorce & Family Law Firm assists many couples who have a high net worth or high-value assets they would like to protect. A marital agreement offers not only peace of mind but also legal protection, no matter what happens in the future. A family lawyer could help this process along by helping with negotiations, drafting a report, and reviewing the arrangement as needed. A Hamilton marital agreements lawyer offers the help each party needs to make an informed decision.
Distributing marital property fairly is an issue many couples approach differently. While the courts may have specific ideas about how to distribute assets and debts in a divorce proceeding, a marital agreement, such as a prenup or a postnup, could help put a couple in charge of how legal matters are handled should the marriage end. For example, a couple can protect individual assets acquired outside of or during the marriage that they would not like to have included in the marital estate.
In Canada, couples who want to work around default court rules could do so by creating a legally binding contract related to their marriage. Each party must understand that these agreements relate to marital property differently than they might to child support or custody. If a couple wants to include them, those matters must still be assessed by a judge to protect the best interests of any current or future children. A family lawyer could provide you with specific insights into exactly which factors an agreement can cover.
Many people wonder if they should simply write their own marital agreements. The truth is that a marital agreements lawyer could provide more support than many Hamilton couples realize. For instance, a lawyer could offer specific safeguards to consider if children are involved in the marriage to help protect the financial well-being of children and step-children. They could also protect property that one party may have inherited, ensuring that crucial family heirlooms and generational wealth are not completely lost in the future.
Another benefit of working with a legal professional is that these contracts must be written in a specific way to hold up in court. Litigating certain issues can be tricky, especially when estate matters are not completely covered. Lawyers could help ensure that all aspects of the contract are airtight, leaving no room for interpretation should the marriage come to an end.
Many couples do not want to consider the idea of divorce in the future, which could create a mental and emotional block to creating a marital agreement in the first place. However, planning helps each party avoid a drawn-out legal battle that only hurts the relationship further.
While relationships and even court proceedings are not predictable, knowing the steps to take now can save time and heartache in the future. Cover many of those details now to avoid handling them at a time when you may feel more emotionally vulnerable. If you want help with a marital agreement, get in touch with a lawyer today to determine the next steps. We are available 24 hours a day to assist you.
The Riley Divorce & Family Law Firm
