A marriage contract can be a vital tool for helping couples move forward after a divorce. Generally, it's something that is created at the beginning of a serious relationship, although it can be difficult to think about ending a marriage just as you're about to begin one.
However, most people are likely to abide by rules they create themselves. And if you and your partner can discuss reasonable separation terms without the impact feelings of anger or resentment can present, it can help create a contract that satisfies both of your needs. Also, it's better to discuss contentious items when things are good and you're both generally more level-headed.
In a post on RBC.ca, the bank provides a couple of reasons why marriage contracts don't hold up in court years later during a divorce proceeding. One of the major reasons is that the provisions some couples come up with are not actually enforceable under existing legislation.
This is something that can often be spotted by a lawyer during the drafting. Some couples can draft a marriage agreement on their own, but can often find themselves in this situation. Consultation with a family law firm allows a lawyer to notice minor nuances that could potentially save you from headaches in the future.
Even the most detailed marriage contracts can be challenged. As situations change over time, not all the provisions may hold up later in life. For this reason, it's best to discuss a marriage contract with an experienced family lawyer. He or she can help you avoid most pitfalls and shortcomings and come up with a contract that reasonably meets your goals.
While this conversation can be difficult to have, it can save you a lot of time and costs later on. It's important to be clear with your partner and have an open and honest discussion about your assets, and what your needs may be in the event of a separation or divorce.