A prenuptial agreement is a contract in which two people who intend to get married outline the rules that will govern their marriage. This agreement also dictates what will happen if the union fails. In Canada, prenuptial agreements are also referred to as marriage contracts. Are thinking about drafting a prenuptial agreement or have you been asked to sign one your future spouse? If yes, here are some things you should know:Prenuptial agreements are not just for the rich and famous
Prenuptial agreements are very popular among those with substantial wealth.» Read more about: What You Need to Know About Prenuptial Agreement » Read more 6 mins read
Rights arising under a common law relationship differ significantly from those afforded to married spouses.
In a common law relationship, one becomes a spouse after three years of continuous cohabitation or upon becoming the natural or adopted parents of a child, in a relationship of some permanence. For married couples, one automatically becomes a spouse after marriage, regardless of the duration of the relationship. A married spouse could be entitled to spousal support after one year of marriage;» Read more about: Common Misconceptions: Principle Differences Between Common-law Relationships and Marriage » Read more 3 mins read
If you are preparing to marry or to move in with your partner, it may be wise for you to draft a prenuptial agreement or cohabitation contract. While you may not want to consider the possibility that you will divorce, it does occur sometimes and an agreement can help you protect your interests and assets.Read more 2 mins read