Ontario Marriage Contract Templates

Please note that the information provided in this document is not legal advice and is provided for informational and educational purposes only. If you need legal advice regarding obtaining a marriage contract or prenuptial agreement in Ontario, you should seek professional assistance.

In my previous article, I discussed marriage contracts and prenuptial agreements, what they are, what their benefits are, and what is required to make them legally binding.

Remember, part of the benefits of having a marriage contract is that it allows you to protect specific assets if the marriage fails, it can be used to create or exclude certain financial support obligations if the marriage ends, and it can be used to make arrangements to divide wealth and property. property that has increased during the course of the marriage.

In this article, I will discuss a basic Ontario marriage contract template:

Introduction
This is the part that usually says something like “This is a marriage contract made on this day between X (wife) and X (husband).”

recitals
This is the background information on why the parties want to enter into the marriage contract. It simply gives the contract a context. It could say something like:

* The parties intend to marry on X.
* The parties are married and wish to arrange for the distribution of their assets upon death.
* The parties are married and wish to exclude X’s assets or property from their net family property in the event of X’s death or in the event of separation or termination of the marriage.

Definitions
You guessed it! You must define the terms that will be used throughout the agreement, such as “Marital Home”, “Net Family Property”, “Property”, “Termination of Marriage”, “Property”, “Support”, etc.

Object of the contract
It is always a good idea to insert a statement as to why the parties are entering into the contract. For example: “The parties want their financial affairs not to be affected by their marriage.” Or: “The parties wish to confirm that X (a particular asset) is owned by X and should not be included in X’s net family ownership.”

Agreement
It is a good idea to repudiate any previous agreements that have to do with the subject of this marriage contract.

effective date
When will this contract take effect (i.e. as of a particular date, the date the parties marry, etc.?)

Confirmation as Domestic Contract
A statement must be included that this is a domestic contract under the Ontario Family Law Act. Also, a statement must be included that this marriage contract supersedes the Family Law Act, and subsequent legislation, and any prior internal agreements made by the parties and/or between a party and a third party.

nitty-gritty
This is where we get to the heart of the matter or the meat and potatoes of the contract. In the following sections, parties can:

* exclude some or all of either spouse’s property from your net family property (so your net family property is effectively $0);
* waiver of rights to property or shared property;
* agree to have no rights under the Family Law Act to match net family property;
* agree not to have a trust interest in any property held in trust for the other;
* divide the property of the marital home;
* agree not to incur debt on behalf of the other spouse;
* agree to exclude support obligations;
* agree to create specific spousal support (for example, limited by term, amount, and dependent on length of marriage, periodic payment or lump sum, etc.);

wills
The parties must ensure that their wills, power of attorney over the estate, and living will match their marriage contract.

amendments
The marriage contract must include a provision, along with other standard provisions (eg, regarding notice, entire agreement, currency, waiver of rights, severability, acknowledgment of independent legal advice, representations and warranties, applicable jurisdiction, etc.) about how the marriage contract can be changed (for example, in writing, signed by both parties, etc.).

Representations and Warranties
Here, the parties must acknowledge that (among other things):

* have had independent legal advice;
* are of full and sound mind and capacity;
* are entering into this agreement freely and voluntarily;
* understand and appreciate the nature of the contract;
* have read the entire agreement and understand its terms and conditions;
* have made a full and complete disclosure of your financial circumstances to the other spouse (for example, assets, liabilities, income, expenses, etc.).

Limitation of liability
Since the parties may be giving up things like the right to property, assets, money, support, etc., you must include a release or limitation of liability for claims arising under the Divorce Law and the Law of Divorce. family law, amended. Make sure you have an attorney’s draft and review it with you, as it should be fairly strict to prevent future claims from arising.

lawyers certificate
It is a good idea for each of the two attorneys to certify that he or she has explained the nature and consequences of the marriage contract and is satisfied that his or her client is entering into the marriage contract freely and voluntarily and with full mental capacity.

Performance
The parties must sign the agreement before witnesses. The witnesses can be the lawyers and that is what usually happens.

In general, I have provided a basic template of what types of terms and conditions are included in a marriage contract. You should not rely on this template throughout. You are always advised to consult with an attorney to ensure that your specific rights and interests are adequately protected and promoted.