Marriage Agreements

Marriage Agreements

Whether you are about to marry or planning to move in with your partner, a Marriage Agreement can provide peace of mind by establishing a clear plan if the relationship does not unfold as expected. A well-drafted Agreement can prevent: conflict, court litigation and the payment of thousands of dollars in legal fees upon relationship breakdown.

Marriage Agreements under the Family Law Act include agreements entered into prior, during or after marriage and include:

• Cohabitation Agreements;

• Prenuptial Agreements;

• Marriage Agreements; and

• Separation Agreements.

What can be covered in each Agreement?

Marriage Agreements can cover a wide range of issues including:

• Division of property at time of separation;

• Spousal support payable;

• Prevent future court litigation;

• Responsibility for debts;

• Set out guidelines as to how you spend or save your money during the marriage.

Important to Note with Marriage Agreements

• Obtain independent legal advice before entering into a Marriage Agreement (to ensure that both parties’ rights are being fully respected;

• Both spouses must fully disclose all finances prior to entering the Marriage Agreement or it may be set aside.

Review of Agreements

It’s good practice to periodically review the agreement, especially when there are major changes in circumstances, such as the addition of children, pets (can also be part of a Marriage Agreement), changes in finances, employment, or the sale of significant assets. In general, it is best to review these agreements and talk about any changes on an annual basis.

We recognize that discussing a Marriage Agreement can be challenging. However, having a clear understanding of your options beforehand can make the conversation easier and offer priceless peace of mind if your circumstances change down the line. Please contact MTC Law and we will happily assist with all your legal needs.