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(780) 439-7700

10530 110 St NW, Edmonton, AB T5H 3C5

Contact our Real Estate Conveyancer: (780) 932-0087 or (780) 439-7700 ext. 5

Contact Healey Law

Phone:
(780) 439-7700

Office:
10530 110 St NW, Edmonton, AB T5H 3C5

Contact our Real Estate Conveyancer:
(780) 932-0087 or (780) 439-7700 ext. 5

Prenuptial Agreement

Pre-Nupital Agreements allow couples to determine a different sharing of assets on death or separation.

photo of a woman signing a prenuptial agreement in the Healey Law office for family law and divorce in Edmonton

Is a prenuptial agreement right for you and your spouse?

When two married people decide to separate, Canadian law dictates that any assets they accumulated during the marriage are divided according to a prescribed formula. A Pre-Nupital Agreement, in contrast, allows a couple to determine a different sharing of assets on death or separation.

For example, let’s assume on the date of marriage that the husband owned a business. Five years later he decides to divorce his wife. Under Canadian law, his spouse would be entitled to a share of any increase in value of that business accumulated during the marriage. However, if the parties agreed in advance that any increase or decrease in the value of the business is not going to be shared, that understanding could be written into a Pre Nuptial Agreement.

Another common scenario involves two individuals who plan to get married and both have children from a previous marriage. In this situation, both parties often want any assets accumulated during their lifetime to go to their family members and this is stipulated in a Pre Nuptial Agreement that renders Family Law not applicable.

See what’s right for you by contacting us at least three months in advance of your marriage to arrange a free no-obligation introductory consultation. And remember this last tip about Prenuptial Agreements – the best time to negotiate these agreements is when you are talking to a future spouse, not a future ex-spouse.

Quick Facts about Prenuptial Agreements

Think ahead – Consider what should happen when the spouse that owns the family home dies. Should the surviving spouse be allowed to live in the house and, if so, for how long? Another option is to stipulate that the surviving spouse can purchase the house from the deceased spouse’s estate.

Things change – While a Pre-Nuptial is a binding document, both parties can decide that changes are necessary to reflect new circumstances. Even after as little as ten years it might be prudent to make some updates.

Decide what should happen with jointly owned assets – A Pre-Nuptial Agreement can specify how a jointly held asset be divided in the event of a separation or divorce. This means thinking about not just the division of the asset. You also need to consider what formula will apply and how funds will be distributed. Remember, conflict emerges when there are “grey areas” that are open to interpretation or dispute.

Pre-Nuptials are not just for second marriages – Even if you are marrying for the first time, it may make sense to have a Pre-Nuptial, especially if you are bringing into the marriage financial assets, children or both.

photo of Jonathan Healey, Edmonton lawyer, a trusted attorney for a wide variety of clients seeking a top law firm in the Edmonton lawyer directory with positive lawyer reviews and offering reasonable legal fees for solicitor advice and services

Why settle for anything less from a solicitor you find in an Edmonton lawyer directory? Get started now by requesting your free, no obligation introductory consultation. You can reach our law office by phone or online.

Healey Law Legal Team

photo of Jonathan Healey, Edmonton lawyer, a trusted attorney for a wide variety of clients seeking a top law firm in the Edmonton lawyer directory with positive lawyer reviews and offering reasonable legal fees for solicitor advice and services

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Jonathan Healey

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Moe Househ

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Lydia Potter

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Effective

Ready to hire a lawyer in a top law office listed in the Edmonton lawyer directory? See why your search for legal services should end with Edmonton lawyer Jonathan Healey.

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Experienced

Over 30 years of experience in Family Law, Divorce and Separation, Uncontested Divorce, Common Law, Real Estate and Wills & Estates.

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Dependable

Not sure about fees for legal services or what to pay for legal advice from a top Edmonton law firm? Ask us for a free consultation with Edmonton lawyer Jonathan Healey.

logo for Healey Law of Edmonton

Main Office: (780) 439-7700

Real Estate Conveyancer: (780) 932-0087

10530 110 St NW, Edmonton, AB T5H 3C5