Postnuptial Agreements in Alberta

Should You Get a Postnuptial Agreement? Here’s What to Know.

Marriage is meant to last a lifetime.  However, life can be complicated. Few couples enter into a marriage expecting it to end in divorce, but the sad truth is that divorces happen often. That is why certain agreements exist to help married couples protect their legal rights in the event of a divorce.

Prenuptial and postnuptial agreements allow married couples to set terms about financial and non-financial matters.  Prenups are created before the marriage, and postnuptial agreements are made during the marriage. These agreements can help you gain peace of mind and legal protection at all stages of your marriage.

Do you need a family lawyer in Edmonton to help you draft a marriage agreement of this kind? An experienced family lawyer at Chahal Law can help you work up a legally sound and fair postnuptial agreement.

What is a postnuptial agreement?

Postnuptial agreements are written contracts between two spouses. They are created by the spouses after the marriage has been officiated, while they are still committed to staying married. Spouses can use their post-nuptial agreement to outline the division of property and specific financial responsibilities if they separate or get a divorce.

A postnuptial agreement can also be used to override the terms of a prenuptial agreement drafted prior to the marriage.

Prenuptial VS postnuptial agreements: Is there a difference?

Yes, there is a difference between a pre or post-nuptial. The main difference involves the timeline used to create the agreement. Only married couples can draft a postnuptial agreement, and only unmarried couples can draft a prenuptial agreement.

These types of agreements can both be used to cover a range of topics like parenting, assets, division of property, claims to property, and other important economic and non-economic matters. With a prenuptial agreement, the arrangements are made before the marriage. A postnup is made after two people have already gotten married.

Both types of marriage agreements are used to give couples peace of mind.

What is a prenuptial agreement?

A pre-nuptial agreement is made when two parties are intending to get married and want to address future concerns about the division of assets, division of property, claims to property, and parenting responsibilities.

Why are postnuptial agreements important?

Postnups are particularly beneficial if one or both partners in a marriage have children from previous marriages or significant pre-marital assets. If your marriage fails, a post-nuptial agreement will use your legal rights to eliminate a range of expensive and time-consuming court battles.

You Need a Postnup When…

• You or your partner has children from a previous marriage
• You want to gain or express full financial disclosure with your spouse
• You or your partner have significant premarital financial assets
• If you want to protect the inheritances of your children
• If your spouse is showing signs of financial irresponsibility
• You or your partner are concerned that a divorce could cause significant economic or non-economic disruptions

How do I create a postnuptial agreement?

The easiest way to create a legally sound postnuptial contract involves hiring an experienced family lawyer. Your family lawyer can walk you through the process of creating the initial agreement and filling out the sections properly so that it will be enforceable in court.

Additionally, if your postnuptial or prenuptial agreement involves the division of property after a potential divorce, both parties will likely need to present full financial disclosure. Also, both parties’ signatures will need to be notarized. These steps will help to protect the legal rights of both parties.

When should I create a postnuptial agreement?

A postnup can only be drafted after a couple has been legally married. There is no time limit on a postnup. You can draft a postnup at any time during your marriage, whether you have been married a year, 10 years, or 25 years. Many couples will choose to draft a postnup if they have been experiencing turbulence in their marriage.

If you are worried about your financial obligations after a marriage ends or believe there will be a dispute surrounding future claims about the division of property obtained throughout the marriage, these agreements are beneficial.

Need a marriage agreement? Call a family lawyer in Edmonton

In conclusion, postnuptial agreements are legally binding documents that must be drafted in a valid and enforceable way. In many ways, they work similarly to a prenuptial agreement. However, they are created after instead of before getting married.

Do you think that a prenup could be beneficial for your marriage? Call our offices at (780) 447-2799 to learn more. We can help you create a postnuptial agreement and will work hard to make the process go easier for you and your spouse.