To avoid this, spouses limit debt
liability in a prenuptial agreement.
Not exact matches
Most Canadian provinces provide for judicial oversight of
prenuptial agreements but the standard of judicial review varies from province to province For example: - Ontario's Family Law Act permits a court to set aside a
prenuptial agreement or any portion thereof if a party failed to disclose significant assets or
liabilities, if a party did not understand the nature or consequences of the contract, or otherwise,
in accordance with the law of contract.
Nonmarital property may also include assets or
liabilities acquired by a non-interspousal inheritance or gift, or assets and
liabilities excluded from being considered marital property
in accordance to a valid written
agreement, such as a
prenuptial agreement.
To sum, make sure you get good legal advice from a competent attorney, consider what is the best process for you such as using mediation, collaborative law or traditional negotiation
in creating a
Prenuptial Agreement, make sure you have full disclosure of your assets and
liabilities and have it signed
in plenty of time which is at least 30 days before the wedding day.