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Marriage Contracts and Millennials

Marriages are often seen as one of those lifetime goals that people need to achieve, along with a post secondary education, having children and buying a house. However, sometimes the person you decide to be with early on in your adult life is not the same person you find yourself wanting to grow old with later in life.

In these situations, many married couples file for divorce. At this point, when things are frustrating and emotional and raw, it can lead to bitter arguments and escalate to resolving matters in a courtroom.

But for many new millennials, this may not have to be the case.

A recent article posted by Global News states that more millennials are signing prenuptial agreements, or marriage contracts as they are known in Canada, before getting married. A marriage contract is a beneficial tool as it can outline how to resolve issues of dividing certain shared property or assets in the event of a breakup.

It can be difficult to discuss what may happen if you and your partner decide to go your separate ways when a relationship is new and everything appears to be going well. However, drafting a marriage agreement either just before you get married, or shortly afterwards, can save you a lot of headaches in the long run.

One of the greater benefits of drafting a marriage contract is that you and your partner can discuss the terms while you are both level-headed and in a good place, as opposed to when there are frustrated or hurt feelings. The idea behind a marriage contract is that if you and your partner created the terms of your own separation, you are more likely to stick by them.

If you have questions about creating a marriage contract, it’s best to consult with a family lawyer. He or she can help you find out what terms you can legally include and what you may not, and how to best create an agreement that suits your specific relationship.

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