The last thing on the minds of engaged or recently married couples is the prospect of a future divorce. While everyone hopes their marriages will stand the test of time, the reality is that many will not. Planning for the future is not an admission of failure. Instead, it can ensure you and your fiancée enter the marriage or that you and your current spouse continue the marriage with an understanding of each other’s expectations for the future.
One of the best ways to prepare for the future is through a written and signed marital agreement that thoroughly addresses many of the conflicts that can arise during a divorce and otherwise. An Ottawa marital agreements lawyer could help you draft a spousal contract that meets your exact needs and sets you up for success later in life. Let a seasoned family lawyer at our firm advise you on the benefits of spousal contracts.
Marital contracts, like pre- and postnuptial agreements as well as separation agreements, can cover a wide range of family law issues. In general, these agreements can be used to resolve financial and property disputes that might arise during your marriage. These disputes often center on the ownership of certain debts and assets.
Furthermore, in the event of divorce, your marital property (assets acquired during your marriage) will need to be divided. A spousal contract can determine ahead of time what property is considered marital as well as how it should be distributed in the event of divorce or upon either spouse’s death. Other issues that could be covered in a marital agreement include:
It is also important to note what a marital contract cannot cover. You may not include terms on child custody or support in any marital agreements. Ottawa courts must make those decisions in the best interests of the child.
Complex issues can arise during the breakdown of any relationship, regardless of whether the parties are married. For that reason, the law provides many of the same legal protections to couples who cohabitate.
While marital contracts allow married or engaged individuals to plan for the future, cohabitation agreements do the same for unmarried couples who live together and do not plan on getting married any time soon.
Both agreements may cover similar issues, like the division of property and whether one spouse will be entitled to financial support upon leaving the relationship. A lawyer in Ottawa could help you prepare for any of these issues in a marital agreement, whether you are married or not.
While the law does not require you to hire a lawyer for your marital agreement, you are only putting yourself at risk when you attempt to draft a spousal contract without legal assistance. Requirements under the law must be met for these agreements to hold up in family court. Any mistake could dramatically impact your future. Fortunately, the experienced attorneys at The Riley Divorce and Family Law Firm could help you every step of the way.
Call 24 hours a day to learn how an Ottawa marital agreements lawyer could help protect your interests.
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