Getting married is an important and joyous step in a couple’s life. It’s also the perfect opportunity to lay a solid foundation for your future together, by making informed decisions about your finances and assets. By opting for a notarized marriage contract, you demonstrate foresight and ensure that your wishes will be respected in the event of separation, death or other unforeseen events.
Why draw up a notarized marriage contract?
There are many advantages to drawing up a notarial marriage contract:
Legal validity
Only a notarized marriage contract is enforceable against third parties and creditors. This means that it has force of law and cannot easily be challenged.
Choice of matrimonial regime
The marriage contract allows you to choose the matrimonial regime that suits you best. Each regime has different implications for the management of your assets and debts, both during the marriage and in the event of separation or death.
Conflict prevention
A marriage contract clarifies the rights and obligations of each spouse, thus preventing future disputes. A cohabitation agreement does not replace a will however, and common-law partners don’t have automatic inheritance rights. A will thus is crucial to protect your common-law partner.
Protecting and managing your personal assets
Simplified procedures in the event of separation or death
A clear and precise marriage contract facilitates the process of property separation and can avoid long and costly legal proceedings.
What happens if there is no notarized marriage contract?
If you don’t have a notarized marriage contract, the default matrimonial regime in Quebec is partnership of acquests. This regime implies that the value of the assets accumulated during the marriage, other than your private property and those comprised in your family patrimony, such as savings, business income not reinvested in the business, investments, and any other assets acquired with your personal income, will be shared equally with your spouse in the event of separation or death.
Notarized contract for common-law partners
Even if you’re not married, you can draw up a notarized cohabitation contract that defines the rules for managing your joint assets and sets out the consequences in the event of a break-up.
Contact LSA Notaire in Laval for a tailor-made marriage contract
Our experienced notaries in Laval will help you draw up a personalized, notarized marriage contract that meets your specific needs and objectives. We take the time to explain the different matrimonial regime options and to discuss the financial and property aspects of your life together.
