What Are These Agreements?
A prenuptial agreement, or “prenup,” is a written contract made between two people before they are married. By contrast, a postnuptial is an agreement that can be thought of as a prenup after marriage. Both agreements outline the prospective spouses’ rights and obligations upon the end of their marriage. These agreements set out the respective parties’ rights and obligations with respect to division of property, support obligations, the educational or moral upbringing of their children, and other family law matters.
The Supreme Court of Canada has stated that a fairly negotiated contract that expresses the parties’ intentions should be given substantial weight. That is to say, upon divorce, the court is less likely to interfere with any pre-existing agreements. Tailor Law can assist you in negotiating, drafting, and filing these important agreements. Call us anytime at 905-366-0202 – our prenup and postnup lawyers offer a free consultation.
Who Should Have One And Why?
The quick and easy answer is: everyone. Everyone should be protected in case of divorce. Even people who are very much in love. Prenuptial or postnuptial agreements are often recommended in cases where the parties are entering into the union with property, unequal income, where a party is entering the marriage with debt, where one party or both owns a business, or where parties are entering the marriage with children from a previous marriage.
Generally, benefits of these agreements include:
- A quicker separation process
- Reduction of stress & conflict
- Delineation of marital property
- Assurance of financial stability for your children
- Protection of your business
- Allocation of debts & liabilities
- A way to resolve any disputes
Setting Aside A Prenup or Postnup Agreement
If you are seeking to set aside a prenuptial or postnuptial agreement, you bear the burden of proving that there are valid grounds to set aside the contract. A court may choose to set aside a pre or postnuptial agreement where a party fails to reveal significant assets or liabilities, where a party did not understand the nature or impact of the agreement, or for any other reason under contract law.
Let Tailor Law Help You Protect Yourself
When if comes to pre or postnuptial agreements, our team can help you address any questions or concerns, determine whether a pre or postnuptial agreement is right for your situation, review and prepare your financial disclosure, negotiate and draft an agreement, provide independent legal advice, or help you set aside a previous agreement.
Start your marriage off on the right foot knowing that you and your spouse made the responsible choice to plan for the unexpected and protect your family’s financial future. Our lawyers are here to help. Please contact us any time of day at 905-366-0202 for a free consultation with a family lawyer serving Mississauga.