Well, I’m pleased to announce that we have just launched our Prenup-O-Matic software. It allows adults who are about to get married, or who are already married, to avoid financial obligations that may arise as a result of their marriage. It deals with things like spousal support, ownership and division of property, ownership and ongoing […]
Prenuptial Agreement Ontario I am pleased to announce that we have just upgraded our DL Guide that comes with our Prenuptial Agreement (Ontario): The written guide used to be 28 pages long and chuck full of the good stuff. But we’ve added some new caselaw dealing with EXCLUSIVE POSSESSION of the matrimonial home. Now, the […]
Prenup Agreement: Updated! I’m pleased to announce that we have just updated our Prenuptial Agreement for Ontario. Specifically, we’ve done the following: Made the terms and conditions dealing with the Matrimonial Home more flexible with respect to who owns it and how net proceeds will be divided upon the sale. Included an indemnification provision: each […]
FREE Prenuptial Agreement? Nope, but it’s the next best thing!We have just released what may be our most popular legal form: a Prenuptial Agreement that avoids creating financial obligations on the parties who are about to get married.
So the basic idea is that, under section 5(1) of the Ontario Family Law Act, when a married couple gets a divorce (or through a court order declaring the marriage a nullity) or is separated and there is no reasonable prospect that they will resume cohabitation, then their NET FAMILY PROPERTY is divided in half. OK so what is NET FAMILY PROPERTY and how do you calculate it? That’s where this blog comes into play.
In the fourth blog, I talked about about what happens if a prenup is set aside (in other words, what will govern the division of property, spousal support, etc.)? I also discussed the doctrines of UNJUST ENRICHMENT, CONSTRUCTIVE TRUST, and RESULTING TRUST – which can be used by a party to claim to assert property claims. In the fifth blog, discussed ownership and division of property can be dealt with in a prenuptial agreement template. In this blog, I’m going to focus on the idea of requiring a spouse to release your estate from claims through your prenuptial agreement.
This is the fifth of a series of blog posts I’m writing about prenups or prenuptial agreements for Ontario. In the first blog, I discussed what they are, when are they used, and what is required for them to be valid and enforceable. In this blog, I’ll discuss how they can be challenged. In the second blog, I reviewed Loy v. Loy – a Ontario Superior Court of Justice case which reviewed the jurisprudence concerning how prenuptial agreements (and other domestic contracts) can be challenged. In the third blog, I’m discussed some tips that will help mitigate against future challenges to prenups. In the fourth blog, I talked about about what happens if a prenup is set aside (in other words, what will govern the division of property, spousal support, etc.)? I’ll also discuss the doctrines of UNJUST ENRICHMENT, CONSTRUCTIVE TRUST, and RESULTING TRUST – which all doctrines based on equity which can be used by a party to claim that they are entitled to certain property. In this blog, I’m going to talk about how ownership and division of property can be dealt with in a prenuptial agreement template.