The Goderich Signal-Star, 1986-02-26, Page 52Showcase -'86, page 25
Marriage contracts will boon become the nflrm...
from page 25
they are more onerous than they used to
be," Scott says.
The government, however, doesn't ex-,
pect people will need to acquire economic
degrees .to figure out how the act works,
he says.
In any event, some people "are so
romantically inclined (when they marry)
they wouldn't consider economic con-
siderations if you blew it in their ear,"
Scott says.
Here's how the division of assets is to
work in a situation where there is no
marriage contract:
The key phrase in the law is "net
family property," or NFP, which is defin-
ed as the value of all property owned by
a spouse on the valuation date;
The valuation date is defined as the
date of separation or divorce, or the day
before the death of a spouse;
Such things as a spouse's debts and
liabilities and property other than the
matrimonial home brought into they mar-
riage are deducted from that spouse's
NFP.
Also excluded from the NFP is proper-
ty acquired during the marriage by a
spouse by way of a gift or inheritance,
damages awarded by a court for injuries
or for compensation for the loss of a
relative., and the proceeds or the right to
the proceeds of a life insurance policy;
On a marriage breakdown, each
spouse adds up the value of his NFP; the
spouse with the smaller amount is entitl-
ed to cash or property equal to one-half
of the difference between his total and
the other spouse's total.
Gets complicated
For example, if one spouse has an NFP
of $50,000 and the other $100,000, the
spouse with the lesser amount is entitled
to $25,000 from the, other spouse.
When one spouse dies, the situation
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becomes a little more complicated.
If there is a will, the surviving spouse
has the choice of applying for the assets
under the law, or under the will, but not
both.
This, says Wolfson', will lead to situa-
tions where the surviving spouse will
have to calculate which method provides
the greater benefit and could lead to
some real problem/.
If a wealthy spouse dies, leaving his en-
tire estate to his children by a previous
marriage, the surviving spouse has the
right under the law to some of the estate.
Store gown
with care
Silk or rayon may be a bride's first
choice for her wedding gown — but
they're not the easiest fabrics to care for,
especially if she plans to save the gown
for future generations.
A cleaning industry spokesmansays
both perspiration and anti-perspirants
will stain and damage silk, and liquid
spills or the dry cleaning process may
remove sizing from rayon that is difficult
to replace because of the intricate tailor-'
ing of most wedding gowns.
"Silk is extremely delicate and re-
quires special care," says Bill Seitz. ex-
ecutive director of The Neighborhood
Cleaners' Association, a U.S. nine -state
trade association. "Perspiration as well
as,anti-perspirants will stain and
deteriorate the fabric.
"If you wear silk, use a quick -drying
anti-perspirant and under -arm dress
shields. Do not put on your gown until
your anti-perspirant has dried."
Seitz says cotton, nylon, polyester.' and
acetate or blends of these fibres are far ,
easier to care for and preserve than
either silk or rayon.
Having the gown cleaned professionally
as soon after the wedding as possible is
your best insurance against permanent
stains, lie says, especially if you want to
pass it down from generation to genera-
tion.
Storage in a plastic bag is not recom-
mended, Seitz says, because it will retain
moisture and invite mildew and at-
mospheric fading. -
Most dry cleaners can provide a
special bridal gown box that can be seal- •
ed and stored safely in a cool, dry area at
home.
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