Area of Law: Family Law
Answer # 0171
What is a prenup?
Region: Ontario Answer # 0171Prenuptial agreements, or “prenups”, are legally binding contracts created by a couple before marriage or during marriage. For common-law relationships, this agreement is usually called a cohabitation agreement. Prenups outline how many important financial issues, such as property division, division of assets and debts, and spousal support will be decided in the event of separation or divorce, or the death of a spouse. Custody, access, decision-making responsibility and child support payments are not included in this agreement, as these issues are determined based on the best interests of the child – not the existence or lack thereof of a prenup.
Prenups are referred to as marriage contracts in the Ontario Family Law Act, the legislation under which they are governed.
Getting the advice and help you need
Before you say “I do,” protect your future. Contact Prenup.ca for clear, enforceable marriage contracts that safeguard your assets and reduce conflict if things change. Speak with an experienced Ontario family lawyer today at 1-800-837-0460 .
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