Loading...
HomeMy WebLinkAboutThe Goderich Signal-Star, 1986-02-26, Page 511 The sleek pared -down styling of the sophisticate is accented,}vith 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 ) Showcase '86, page 25 Marriage contracts w6!l soon become the norm 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, some 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 ncludingbusiness assets, acquired during the mar- riage Of course, the above scene,cap 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 conies 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 his or her will won't be frustrated by the new law, Wolfson explains. Marriage contracts,' were also alienable M the old act so spouses could opt out of its property division and maintenance. sections when a marriage dissolved. Wolfson says he's amazed ai 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 existin4 law, only family assets acquired duringthe 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 uftderthe 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 borne, 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 eennornir con- sequences of marriage more closely. "You've got to approach marriage or cohabitation conscious of the economic responsibilities you're undertaking and Turn topage 26• u 7 ea dot waa.><eat w mdI va4 o6keaa awe kao(Ne44 to Raii & Steve. /91T6 a aeata're u dal eou61e. *tun good aatuae, fratie regi aad frotoeveiaaee wrote oete, mad 9t wad tot4oajuai • 744stit4 al44 to lite ma ut flostorailto.44 awe oreAdanto #ataized 1.c t 14 edlria.e. 7Ge a 2 ti4a° co-afraratio a awl 9aac-wdl akocva ua leave made dila &Nu e a tory to fraadace 494.4c *4 Wait' r4 yid acme& to eattees Ill4pubte roeet tem aosiotaaee cud to Qua 9naeroaa 4,0441, .441 dr od S'ea rrilleA ?WC, 7:koaeaa turat anal. feoftle ant taulry a f°`l to awoak(ad. 7kaaka to all ado cuarateded/ Ike St46. • - Sadat SSoweaae 76.