protecting assets for kids from first marriage

In a March 3, 2015 article published by Country Guide (I Do, and I Don’t, Maggie Van Kamp), the author discussed the importance of prenuptial agreements in second marriages, as well as for those with significant assets, such as a farm, business or other properties.  The author also points to the possibility of a postnuptial for those already married.

Although often a difficult discussion, the author suggests that these may lead to a robust discussion of the couple's current financial situation and future goals.

The article also discussed issues specific to family farms, such as a note in the Agreement indicating the intent to keep the farm in the family for generations.

Laws surrounding separation vary from province and territory and particulars in the taxpayer’s jurisdiction should be considered.

Thanks to John Mill, LL.M of Windsor, Ontario for his comments on this article.