When you find the perfect partner, drawing up a notarized marriage contract may not be the first priority that comes to mind. On the contrary, this is the perfect time! It’s always better to talk about how you’d like to manage your joint properties when things are going well.
Why use a notary to draw up a marriage contract?
What happens if you don’t have a notarized marriage contract?
If there is no notarized marriage contract, the regime that applies to your marriage is known as “a partnership of acquests.” In this regime, the spouses may have private property (owned individually) and acquests (acquired during the marriage and jointly owned). Since these provisions have implications for the division of property following a divorce, a separation or a death, it is important to discuss them with your notary to make an informed decision.
Contract for common-law spouses
If you and your spouse are in a common-law relationship, you can also draw up a contract that sets out how your joint property is divided and what happens if you break up. Besides cohabitation contracts, wills are particularly useful, because the common-law partner doesn’t automatically inherit the assets on the death of the other. Our team will be pleased to discuss the civil and tax consequences of being a common-law partner, as well as the various tools available to you.
