Is a marriage contract the same thing as a prenuptial agreement?
Yes, a prenuptial agreement is the same thing as a marriage contract. The terms can be used interchangeably, however, in Canadian legal circles, the term "marriage contract" is used more frequently.
How much does it cost to get a marriage contract or a cohabitation agreement?
The cost of a marriage contract varies depending on the complexity of your personal situation. In our experience, most marriage contracts range between $3000-5000.
I’m afraid my partner / fiancé will react poorly to me asking for a marriage contract, what should I do?
Marriage contracts can provide both parties with protection in the event that the marriage does not go as planned. It can be considered a form of insurance. Every couple’s situation is unique and thus a marriage contract may be suitable for some and not suitable for others.
I’ve heard that marriage contracts can be set aside, do I still need one?
While it is possible under certain circumstances to set aside a marriage contract (e.g., if it was signed under duress), a well drafted marriage contract does provide protection and is strongly recommended if you have significant assets prior to getting married.
Can I sign a marriage contract after getting married?
Yes, it is possible to sign a marriage contract after getting married. However, once you are married, your spouse has gained certain rights and thus there is more flexibility in agreeing to a marriage contract prior to getting married.
Is a cohabitation agreement really necessary?
A cohabitation agreement is similar to a marriage contract in that it specifies what happens when you separate from being in a common-law relationship. It provides both parties with protection, especially if you or your partner has a significant amount of assets. If you anticipate getting married, the cohabitation agreement can turn into a marriage contract.