How do I protect assets before divorce?
The simplest and best way to protect your assets, in anticipation of a potential future divorce from your spouse, is to make a marriage contract. This written document – which you freely negotiate together – allows the two of you to clearly agree on how to divide your various assets, including the matrimonial home and various business interests, should you decide to divorce. It is especially useful for protecting your assets in a situation where you have substantially greater assets than your spouse at marriage, or where you expect to earn or receive more during the relationship.
Without a valid marriage contract, your assets will be divided and allocated in accordance with the Ontario Family Law Act, which calls for property be equalized in a specified manner in the majority of cases.