Post Nuptial Agreements are utilized in Canada when married couples wish to establish clear terms regarding their property rights and financial obligations after their marriage has already taken place. This type of agreement becomes particularly relevant when there are significant changes in financial circumstances, inheritance, business ownership, or family situation after marriage. A Post Nuptial Agreement must comply with strict legal requirements including full financial disclosure, independent legal advice, and adherence to both federal and provincial family law legislation. The document typically covers asset division, support obligations, debt allocation, and can include provisions for businesses, pensions, and inheritance. Unlike prenuptial agreements, these contracts are created during marriage, requiring careful consideration of existing matrimonial rights and obligations. They are particularly common in situations involving business ownership, substantial inheritance, or significant asset accumulation during marriage.
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1. Parties: Identification of both spouses including full legal names, addresses, and occupations
2. Background: Details of the marriage, including date and place of marriage, and reason for entering into the postnuptial agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Purpose and Intent: Clear statement of the parties' intentions in entering the agreement and acknowledgment of its binding nature
5. Independent Legal Advice: Confirmation that both parties have received independent legal advice before signing
6. Financial Disclosure: Acknowledgment of full and frank financial disclosure between parties
7. Division of Property: Details of how matrimonial property will be divided, including both assets and debts
8. Spousal Support: Terms regarding spousal support rights and obligations
9. Severability: Provision stating that if any part of the agreement is found invalid, the rest remains enforceable
10. Governing Law: Specification that the agreement is governed by Canadian law and the applicable provincial jurisdiction
11. Amendment and Termination: Conditions under which the agreement can be modified or terminated
12. Execution: Signing requirements and witness provisions
1. Children and Parenting: Include when there are children from the marriage, covering custody, access, and child support arrangements
2. Business Interests: Include when either spouse owns a business, detailing how business assets and income will be treated
3. Inheritance and Gifts: Include when there are significant inherited assets or expected inheritances to be protected
4. Life Insurance: Include when the agreement requires maintenance of life insurance policies as security
5. Pension and Retirement Benefits: Include when dealing with division of pension rights and retirement benefits
6. International Assets: Include when either party has assets in other countries
7. Religious Requirements: Include when religious laws need to be accommodated (e.g., Jewish Get provisions)
8. Pet Custody: Include when arrangements for pets need to be specified
1. Schedule A - Assets and Liabilities: Detailed listing of all assets and liabilities of both parties at the time of agreement
2. Schedule B - Financial Disclosure: Financial statements, tax returns, and other financial documentation
3. Schedule C - Business Valuations: Professional valuations of any business interests
4. Schedule D - Property Appraisals: Professional appraisals of real estate or significant personal property
5. Schedule E - Pension Valuations: Actuarial valuations of pension and retirement benefits
6. Certificate of Independent Legal Advice - Spouse 1: Signed certificate from first spouse's lawyer confirming independent legal advice
7. Certificate of Independent Legal Advice - Spouse 2: Signed certificate from second spouse's lawyer confirming independent legal advice
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