Wealth Management & Family Law Part 2: Matrimonial Regime
About This Episode
Under the Civil Code of Québec, there are a number of laws that impact couples and their assets in the event of separation or divorce. For part two of this series, we’re exploring matrimonial regimes and how they affect the division and separation of assets.
Unlike family patrimony, which applies to all marriages and civil unions, couples can choose different matrimonial regimes based on their marriage contract. To give us a clear picture of which assets are impacted by the matrimonial regime and why we might want to consider having a marriage contract, we’re joined once again by Patricia Fourcand.
Patricia is a lawyer and partner at Miller Thomson, a large Canadian law firm with offices across the country. She has over 20 years of experience in family law with expertise including divorce, separation, and child custody. Patricia is also a fellow at the International Academy of Family Lawyers, which is a worldwide association that recognizes lawyers that are the most experienced and skilled in family law in their respective countries.
On this episode, Ruben and Patricia talk about the differences between the family patrimony and matrimonial regime, the types of matrimonial regimes, the benefits of a marriage contract, the differences between a marriage contract and a prenup, and so much more!
- A key difference between the family patrimony and matrimonial regime (2:42)
- Applying the law of matrimonial regime (3:56)
- How a partnership of acquests is formed (4:54)
- Types of property which fall under acquests (6:59)
- Similarities between family patrimony and partnership of acquests (7:56)
- Defining private property (9:35)
- Requirements for donations to be categorized as private property (10:25)
- When to choose the regime of separation as to property (12:26)
- The mandatory application of the family patrimony (14:43)
- Situations where a marriage contract is advisable (16:29)
- Distinguishing between a marriage contract and a prenup (18:01)
- How Québec laws make marriage contracts more equitable (20:07)
- Navigating tough discussions about marriage contracts (21:54)
- And much more!
Mentioned in this Episode:
Thanks for Listening!
Lifestyle creep—a subtle increase in expenses as income grows—could be impacting your financial future and threatening your retirement more than you realize.
Retirement has the potential to be the happiest phase of one’s life. Learn how retirees can uncover their unique paths to a gratifying and purposeful retirement.
A reverse mortgage can offer an opportunity to unlock home equity and provide much-needed cash flow. Today we discuss the best candidates and strategies for using them.
Stay on top of your financial education
Subcribe and follow to get updates on important wealth management topics.