A postnuptial agreement helps you and your partner plan together for a secure and stable future while paying respect to your culture and values.
Even after marriage, proactively planning for your shared future remains a thoughtful step. Similar to reviewing your long-term goals, a postnuptial agreement provides a framework to clearly define how assets, debts, and other important aspects will be managed as your life together continues and ensure your financial well-being in the event your marriage dissolves.
A postnuptial agreement is a legal contract created after a couple is married. Essentially, it outlines the terms they have agreed upon for property division, spousal support, and other relevant issues should the marriage dissolve.
Postnuptial agreements help married Indigenous couples clarify their shared responsibilities within their marriage and for their future, respecting cultural considerations. They should cover:
Openly discussing your finances and expectations with your spouse is the first step.
Gathering your financial information and committing to full transparency will streamline the process. This agreement can also reflect and incorporate specific community laws, customs, or traditions related to family and property, ensuring the agreement aligns with both Canadian law and your cultural values. Remember, independent legal advice for each of you is key to ensuring the agreement is fair, understood, and legally sound.
Couples may choose to sign a postnuptial agreement for various reasons, such as changes in financial circumstances (like starting a business or receiving an inheritance), to clarify financial expectations during the marriage, or to address concerns that arose after getting married. It can also be a way to formalize agreements reached through marital counselling.
Yes, a properly prepared and executed postnuptial agreement is generally legally binding in Alberta. However, for it to be upheld by the courts, it must meet certain legal requirements, including full disclosure of assets and debts by both parties, and it must be entered into voluntarily without duress or undue influence. Seeking independent legal advice is highly recommended.
Yes, a postnuptial agreement can be amended or cancelled if both spouses mutually agree and create a written amendment or a new agreement that complies with legal requirements. Again, it’s advisable to seek legal counsel when making any changes to ensure that they are legally sound.
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