28 Dec 3 Reasons You Should Have A Marriage Contract
AccorAccording to recent statistics, there are over 14.3 million married people living in Canada currently. Although the divorce statistics in the country are not as high compared to some neighboring countries and other countries in the world, it is still 10 for every thousand marriages.
While it might not sound very romantic, it is important for couples to draw up marriage contracts and pre-nuptial agreements before becoming legally bound to each other. An honest approach to marriage and an open discussion about the assets and who will get what in case of a divorce can be extremely beneficial for both parties and save them a lot of headache and legal issues down the road.
Here are some of the major benefits of having a marriage contract drawn up by professional and experienced family lawyers:
Encourages Open Communication
Open communication is the building block for any successful relationship. It is important for couples to have candid discussions about the future and any expectations they have in case the marriage doesn’t work. By talking about it openly, the couple can let go of any insecurities and feel more at ease with each other.
Protects Individual Assets
A pre-nuptial agreement is essential where there is a matter of protecting treasured family heirlooms or ancestral property. The contract allows both parties to have their assets kept separate from the joint property acquired during the relationship. In case of a divorce, there can be no claim laid on those properties by the other party, and the process of asset distribution is expedited.
Prevents Complicated and Lengthy Court Battles
More often than not, the divorce proceedings turn sour as both parties fight to the bitter end to get the larger share of the assets from the marriage. It can also lead to lengthy court battles, which can be very costly and can have a significant negative impact on the emotional and mental health of all parties involved, including the children. Having everything written down before getting married can make the separation process smoother without requiring expensive litigation lawyers and complicated legal proceedings.
Family Law, Divorce and Mediation with McGuinty Law Offices
Get help from experienced and skilled family law and divorce experts at McGuinty Law Offices in Ottawa. Our shrewd and compassionate legal team can guide you regarding various issues when getting married and help you draw up comprehensive marriage contracts and pre-nuptial agreements to protect your finances in case of a divorce.
Contact our professional family lawyers today for various other complex legal family issues such as mediation, cohabitation agreements, spousal support, child support, and separation.