What is a postnuptial agreement?

Postnuptial agreements

A couple who is already married can enter into a contract that addresses divorce-related matters. This is generally called a postnuptial agreement or “postnup.”

This infographic helps clarify the terms that are typically covered and the elements needed to ensure it is valid.

The terms typically addressed

While every postnuptial agreement is unique to the couple and circumstances involved, there are specific terms that tend to be addressed, including:

The division of marital property and debts upon divorce
The terms of spousal support (as applicable)
How assets will be passed upon the death of either spouse

The elements of a valid postnup

It must be in accordance with provincial and federal law of contracts
It must involve full disclosure in terms of all significant assets, liabilities and debts at the time of its creation
The nature and consequences of the contract must be understood by both parties
There must not be pressure to sign the agreement and you both must sign it of your own free will