What Are Post-Nuptial Agreements & Why You Need One?
Post-Nuptial Agreements Can Help Marriages
Understanding Post Nuptial Agreements
You have likely heard about a pre-nuptial agreement. These are marriage agreements that are entered into before a couple gets married. As the Canadian Bar Association explains, these agreements are very similar to contracts that you might sign with business partners, landlords, or in any other relationship when it is important to define the responsibilities of each party. So if you have already walked down the isle, what do you do? There is more to learn below or call our Calgary, Alberta legal team for help 403-225-8810.
What is a Post-Nuptial Agreement?
If a pre-nuptial agreement is drafted and signed before the marriage takes place, a post-nuptial agreement may be created after you have said your vows. Both of these documents essentially perform the same tasks. The only real difference is when they are written and when they go into effect. Some couples may even sign a pre-nuptial agreement and a post-nuptial agreement.
ts of sorts. They outline the responsibilities and expectations of each spouse. Depending upon the preferences of the couple, this agreement can be used to determine how major decisions, which will affect the marriage, will be handled.
They might also provide guidelines for how major responsibilities regarding finances and childcare will be distributed. Many couples like to have these agreements in place because this can potentially eliminate difficult conversations, moments of uncertainty, and disputes within the marriage down the road.
Marriage agreements are perhaps most widely known for being documents that outline which property is marital property, and which assets are to remain in the sole ownership of one of the spouses, if the marriage ends. For instance, one spouse may stipulate that a family business or a family home is to remain in their name only if the marriage ends in a divorce.
A marriage agreement may also stipulate whether or not a spouse will be entitled to spousal support and/or child support if the marriage ends. These agreements will need to be validated by the Courts, and an Alberta family lawyer can help you draft an agreement that meets the requirements of the law.
Pre-nuptial agreements are more common and more widely known because they are seen as legal tools that are used to protect an individual and their assets before they enter a marriage. This is especially true if one or both of the spouses is going to enter a marriage with a large estate and/or a business that they have grown.
There are some instances, however, when these types of agreements are drafted after the couple is already married. This does not typically happen simply because one or both spouses is having doubts about the marriage. The need for a post-nuptial agreement generally occurs when certain circumstances dramatically change for the couple.
For instance, one of the spouses may inherit a large piece of property or a business from a family member. Their family might insist that this individual creates and signs a post-nuptial agreement created to ensure that this inheritance would stay within the family, regardless of the future of the marriage.
If there are any influences that cause the dynamic of the marriage to shift considerably, the couple may consider a using a post-nuptial agreement to bring about balance to the marriage. A spouse may change careers, and this may completely shift the roles of each partner, causing confusion. A marriage agreement may create the guidelines necessary to help the couple stay on track.
Marriage is a partnership. It is important to provide this relationship with the support and framework that it needs to have a strong foundation, and this can include a post-nuptial agreement. If you feel that your marriage would benefit from one of these agreements, consider consulting with a family law attorney in Alberta.
You may also wish schedule a consultation with a member of our family law team to discuss your family law entitlements and obligations. The post-nuptial lawyers at Kahane Law Office in Calgary, Alberta can help. please contact our experienced team at Kahane Law Office. You can reach us toll-free at 1-877-225-8817, or 403-225-8810 locally or email us directly here.