Do I need a marriage contract?

Common misconceptions about marriage contracts

Marriage contracts can be very beneficial to both parties but often have a negative connotation. In most cases, this document can be a positive tool that helps set expectations and create clarity.

This infographic breaks down the misconceptions that exist about these agreements.

I own our home so I don’t need a marriage contract.

If a couple is cohabitating, even if only one name is on the title, both may still have some legal right to the home.

These contracts are always overturned. It’s just a waste of money.

Agreements that are properly drafted, that are fair and reasonable and where both parties participated in their creation are very hard to overturn. It is costly for the person who is challenging the agreement and they will be responsible for paying the legal costs of the other person if they lose.

My partner doesn’t want an agreement and I don’t want to upset them. It’s just not worth it.

These are the relationships where it is crucial to get an agreement. Couples who are not on the same page financially tend to have more conflicts and a higher chance of breaking up.

The only people who get marriage contracts are those who plan on getting divorced.

Some people think signing agreements means that they are planning to get a divorce. The reality is that many couples who do not plan on getting divorced create agreements. Having an agreement in place can help the couple start their relationship off on the right foot and provides the security of knowing that conflict will be minimized in the event there are challenges in the relationship.

My partner and I agree on everything. I’m confident that we would end things amicably.

If this is the case, it should be easy to discuss these scenarios now and put them in writing. Creating an agreement in advance allows both parties to look at the situation clearly without being emotionally charged.