Family Law: What to consider when getting engaged
Thousands of couples in Ontario and elsewhere choose to start their engagements in the time between Thanksgiving and New Year’s Day. However, at this time of being hopelessly in love, not many think about the seriousness of such a commitment and the important financial matters to consider. Consulting with an experienced family law lawyer even before the wedding may be a wise step to take.
The marriage date may have a significant effect on the tax obligations of each spouse, and gaining knowledge about that may allow the couple to choose a date that will benefit them both. While prenuptial agreements used to be an often-avoided subject, modern couples who enter into serious relationships have already accumulated assets that need protection. This is the appropriate time to discuss those assets, each party’s concerns and visions, how they will manage the household finances and who will be responsible for any existing debts.
It is also advisable to be realistic about the engagement and the investment in the engagement ring. This is the time for a couple to make sure they want to be together forever. What will happen if the engagement is broken off — who will get the ring? The next important step is to plan the wedding — regardless of whether it is an intimate affair or a large celebration. With the availability of the internet to get ordained, it may be wise to ensure the officiating person is credentialed to ensure you are legally married.
Couples may want to come down from that cloud of love for just long enough to gain some valuable knowledge about family law and the legal issues to consider. The experience of a seasoned lawyer who focuses on family law can provide guidance and support on various levels. This is a significant step in the life of any Ontario resident, but the reality of a possible divorce is something which common sense dictates should be considered.