Prenups

What is a Prenuptial Agreement?

A prenuptial agreement (also called a marriage contract) is a written agreement made by two people before marriage that sets out how property, debts, and financial matters will be handled during the marriage and in the event of separation.

In Ontario, a prenuptial agreement is legally binding if it is properly signed and witnessed, and both parties fully disclose their finances. Independent legal advice is strongly recommended. However, provisions related to child custody and child support are not binding on the court, which will always decide based on the best interests of the child

The agreement can also address issues such as spousal support, ownership of assets, and division of future property. It helps provide clarity and reduce potential conflicts by setting expectations in advance. Both parties should enter into the agreement voluntarily, without pressure or coercion. If there is a significant change in circumstances, the agreement may be reviewed or amended. A well-drafted prenuptial agreement offers financial security and peace of mind for both partners.