Domestic Contracts in Calgary

A Prenuptial Agreement is a legal contract between a couple made in contemplation of their marriage. It sets out how property is to be owned during a marriage, how property is to be divided in the event of a separation and how property is to be distributed in the event of one party’s death (in conjunction with a Will). A good Prenuptial Agreement will deal with assets held in joint and separate names, will set out what types of assets are to be kept separate, what types of assets that are to be divided (and how they are to be divided), and will deal with the increases in value of separate assets, the division of liabilities, and can even address the issue of spousal support. A Prenuptial Agreement is invaluable in the event of separation, as it can save parties a great deal of stress, time and money by avoiding a legal dispute.

A good Prenuptial Agreement is difficult to draft and is exceedingly important. Not only do you need to have confidence that your Prenuptial Agreement accurately reflects your intentions and desires, you also need to have faith that it is binding and enforceable. There are a variety of ways that Prenuptial Agreements can be challenged and having a thorough and well-drafted Prenuptial Agreement is priceless. Our senior lawyers at Jones Divorce and Family Law have extensive experience with Prenuptial Agreements.

A Cohabitation Agreement is a legal contract between a couple that is living together but not getting married. Like a Prenuptial Agreement, it governs how property is to be owned, how property is to be divided in the event of a separation and how property is to be distributed in the event of one party’s death (in conjunction with a Will). A Cohabitation Agreement can address the same issues as a Prenuptial Agreement (jointly owned and separately owned property, what property is to be kept separate and what property is to be shared, address increase in value, division of debt and support).

It is vital that people know that living together at all, never mind for a specific length of time, is not required in order to gain an interest in another’s property or to gain a right to regular financial support. If you are in a relationship where the other party is providing contribution (financial or otherwise) and / or where you are providing financial assistance (gifts of trips, jewelry, assistance with expenses of any kind), you could be in a relationship with a legal obligation to provide a portion of your property or your income to the other party. Be prudent and obtain good legal advice before that legal obligation is created without your knowledge or consent. A contract can protect you.

A marriage agreement or a Postnuptial Agreement is a legal contract between a couple executed after they are married. Like a Prenuptial Agreement, it sets out how property is to be owned during a marriage, how property is to be divided in the event of a separation and how property is to be distributed in the event of one party’s death (in conjunction with a Will). Postnuptial Agreements are common when there is a family trust created after marriage when one spouse is likely to receive an inheritance. A good Postnuptial Agreement will deal with assets held in joint and separate names, will set out what types of assets are to be kept separate, what types of assets that are to be divided (and how they are to be divided), and will deal with the increases in value of separate assets, the division of liabilities, and can even address the issue of spousal support. A Postnuptial Agreement is invaluable in the event of separation, as it can save parties a great deal of stress time and money by avoiding a lengthy and expensive legal dispute.

As with a Prenuptial Agreement, a good Postnuptial Agreement is not an easy document to draft but is exceedingly important. Not only do you need to have confidence that your Postnuptial Agreement accurately reflects your intentions and desires, you also need to have faith that it is binding and enforceable.