Pre Nuptial versus Post Nuptial agreements (Marriage Contracts)

[Ontario555]

Hello,

My finacee and I will be getting married within a month.
We should have considered a pre nuptial agreement before, however, if we cannot get one in place within a month, is there such thing as a post nuptial (marriage contract) for Ontario?

I believe there is - but can anyone tell me if there are any specific downsides to getting one done after marriage as opposed to before? We both want to protect our assets (money and property we are bringing into the marriage) and for me future inheritances I will be receiving from my family, and my family's business.

Also, I have been reading about these agreements - can someone please clarify how they are completed - would I go to a lawyer and present them with all my assets (specifics as well as their value) and they draft the agreement that I would then give to my spouse so he could review it with his lawyer? How do his assets get included in the agreement? Are they added when he shares the draft with his own lawyer?

I had first thought that we would both go together to one lawyer for the agreement, but now I realize this does not seem to be the way it is done.

Thank you.

 

[dinkyface]

can anyone tell me if there are any specific downsides to getting one done after marriage as opposed to before? We both want to protect our assets (money and property we are bringing into the marriage) and for me future inheritances I will be receiving from my family, and my family's business.

Inheritances would be safe anyway ... assuming you kept them separate from marital property.

The main problem I see is that the person who is getting less protection from this will have NO reason to sign it after you are married.

 

[OrleansLawyer]

We should have considered a pre nuptial agreement before, however, if we cannot get one in place within a month, is there such thing as a post nuptial (marriage contract) for Ontario?

Yes; both are domestic contracts.

“domestic contract” means a marriage contract, separation agreement, cohabitation agreement, paternity agreement or family arbitration agreement; (“contrat familial”)

As per s.51 CanLII - Family Law Act, RSO 1990, c F.3

if there are any specific downsides to getting one done after marriage as opposed to before?

It may be more difficult to negotiate the contract after marriage. One party can simply drag their feet. Or, if they won't sign, you need to decide if that would breakdown the marriage.

can someone please clarify how they are completed

Talk to a friend who has had one done. In the alternative, call the lawyer referral service and have an appointment with a family law lawyer. Ask them to break down the process for you, including costs, so you may determine if that is a service you need.

I had first thought that we would both go together to one lawyer for the agreement, but now I realize this does not seem to be the way it is done.

One lawyer will provide ILA for you and draft the agreement, the other will provide ILA for him. Both parties should have ILA (independent legal advice).