It is possible to enter into a binding marriage contract before the marriage is ever finalized. Marital contracts signed before marriage – referred to as prenuptial agreements – outline important financial details that could impact you and your soon-to-be spouse if you eventually separate or divorce. A skilled marital contracts lawyer could advise you on the benefits of prenuptial agreements.
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Pre-marital agreements are a convenient and effective way to protect your financial interests for when you get married. If the relationship dissolves, the terms of a prenup could ensure you retain the property you brought into the marriage, and more. Let our Toronto prenuptial agreements lawyers help you protect your finances and set clear expectations for your new relationship in a legally enforceable marital contract.
A prenuptial contract can cover most of the issues that must be resolved during a separation or divorce, including the division of assets. A pre-marital agreement could identify property that belongs to one spouse or another instead of leaving it up to the court to divide.
Other issues that could be resolved with a prenuptial agreement include spousal support and the division of debts. As long as the terms of a pre-marital contract are legally enforceable and fair to both parties, a family court judge would be obligated to incorporate them into a final divorce decree, potentially avoiding expensive and contentious litigation. A prenup lawyer in Toronto could develop an agreement that suits you and your fiancé.
Not every issue covered during divorce proceedings can be resolved through a prenuptial agreement. Specifically, any questions related to parenting time, decision-making responsibility, and child support may not be included in these agreements.
A judge must decide these matters in a way that serves the child’s best interests. In cases where the child’s interests diverge from the terms of a prenuptial contract, the court must put the child’s needs first by issuing a new order.
Furthermore, a pre-marital agreement cannot include binding language related to ownership of the matrimonial home. According to the Family Law Act, both parties have an equal right to live in the home, and a contractual agreement cannot alter or terminate that right. These issues can only be decided through separation agreements or divorce proceedings.
A knowledgeable Toronto prenup lawyer could answer any questions you may have about what terms can and can’t be included in a prenup.
If you are engaged to be married, the right lawyer could help you protect your financial interests for the future and facilitate meaningful dialogue between you and your fiancé. A prenup provides you with an opportunity to ensure you are on the same page as your future spouse and can help foster transparency and communication between you.
Our firm is prepared to help you develop a pre-marital contract that protects your rights and complies with Toronto law. Paul Riley is available 24 hours a day, so call right away for a consultation with one of our Toronto prenuptial agreements lawyers.
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