HomeMy WebLinkAboutClinton News-Record, 1986-02-19, Page 45Marriage contracts will
soon become the norm
Showcase '86, page 25
The sleek pared -down styling of the sophisticate is accented with a headband and veiling to
create chic North American lines so effective in 'satin. Long stemmed lilies and fern tied
with a lacey bow add to the beauty of the sophistication. His tuxedo has satin lapels and wing
collared shirt with matching satin bowtie. ( photo by R. J. Nephew)
Marriage contracts — legal documents
specifying who gets what properly and
maintenance when a marriage ends —
will become the norm in Ontario as one
result of the new and far-reaching Fami-
ly Law Act, same lawyers say.
Avoid consequences
The reason, they say, is that such a
contract enables the separating couple to
avoid the consequences of the new law,
which, on marriage breakdown, requires
the equal sharing of all assets, including
business assets, acquired during the mar-
riage.
Of course, the above scene can be
played out with sex roles reversed, and
whether a legal marriage or a common-
law relationship is involved.
The act, which takes full effect March
1, replaces the Family Law Reform Act.
Unlike that law, the new act will cover
marriages that end because of the death
of a spouse, as well as separation.
No frustration
"This act will apply to every married
person in the province, either when
they're alive or after they go," says
Lorne Wolfson, a civil litigation lawyer in
Toronto who practices extensively in
family law.
Wolfson says the act takes precedence
over a will, when it comes to dividing the
assets of a marriage when one spouse
dies.
But a marriage contract enables a cou-
ple to "opt out" of the act, so that the
wishes of a testator in hi§ or her will
won't be frustrated by the nevi law,
Wolfson explains.
Marriage contracts were also available
in the old act so spouses could opt out of
its property division and maintenance
sections when a marriage dissolved.
Wolfson says he's amazed at the
relatively light media attention the new
law has drawn. What coverage there's
been has focused on the change in how
assets are dealt with.
Under the existing law, .only family
assets acquired during the marriage —
such as the matrimonial home, cars and
cottage were subject to an equal divi-
sion when a marriage broke up.
`Slid through'
One spouse, usually the wife, would
have to ask a court to give her a share of
the other spouse's.business assets but
there was no guarantee she'd get it.
But under the new act, all assets, in-
cluding business assets, investments and
pensions, acquired during the marriage
by either spouse are subject to equal divi-
sion, as is the growth in value of assets
brought into the marriage by either
spouse.
And the matrimonial home, even if
brought into the marriage by one of the
spouses, is always subject to equal divi-
sion.
The act "sort of slid through the
legislative process with very little com-
ment," Wolfson claims. "It's been really
a non -issue politically; none of the
political parties has made any issues
with it, pro or con."
The Canadian Bar Association - Ontario
thinks the law has such wide implications
it scheduled a special two-day seminar on
it for lawyers last month.
Family -law solicitors attending were
given seven papers totalling hundreds of
pages on different aspects of the law,
ranging from its basic ideas to domestic
contracts and estate planning.
Wolfson has prepared his own paper on
the law, in which he predicts that mar-
riage contracts will become as common
as wills.
Attorney -General Ian Scott isn't so
sure, but does think the law will force
people to examine the economic con-
sequences of marriage more closely.
"You've got to approach marriage or
cohabitation conscious of the economic
responsibilities you're undertaking and
Turn to page 26 •
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