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Posts tagged "Divorce"

Do you need a prenuptial agreement?

A prenuptial agreement, which is sometimes better known as a prenup, is a legal document created by a couple before they marry. Its purpose is to clarify in advance who has ownership of perspective property and what the financial rights of each spouse are in the event that the marriage fails. It is a very personal decision as to whether or not a couple should have a prenuptial agreement and is not something that should be entered into lightly.

Splitting up assets during a divorce in Alberta

If a couple decides to end their marriage, they will need to split up assets and debts that they accumulated during the marriage. The formula generally used to divide assets is to take a couple's property and subtract the debts and allocate whatever remains. Not all property is considered marital property; items that are owned before a marriage are generally exempt from division.

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