Settlement Agreements
A circle with a diagonal line like you see in the Peaceable Settlements logo is a shorthand symbol for an agreement.
In family law matters, a Settlement Agreement is meant to minimize and prevent future disagreements and conflict because it puts into writing what you have agreed. It resolves and lays out a roadmap for dividing your assets and debts, managing your expenses, parenting and supporting your children, and providing for your financial needs and those of your spouse/partner.
This Agreement can be enforceable if it meets the legal requirements for a contract. Then you can rely on what it says to move forward with your plans and future. If you are married and planning to divorce, some of the terms in this Agreement will be written into the Divorce Judgement.
There is a legal requirement to have independent legal advice from a lawyer before signing a final Settlement Agreement. This is to ensure that you have a good understanding of your legal rights, entitlements, and obligations and know fully what you are signing before you do. Such legal considerations and requirements are important to make your Agreement binding and enforceable.
There are different kinds of Settlement Agreements in family law matters.
Divorce & Separation Agreements
These can have different names such as Divorce and Property Contract, Minutes of Settlement Agreement, or Legal Separation Agreement. They cover off what you have agreed to on your property, parenting plan, and support. Some of what you agree will be governed by the law in the Canada Divorce Act, the Alberta Family Property Act and the Family Law Act for separating couples who are married, or in an adult interdependent relationship.
Cohabitation Agreements
Unmarried couples can decide and agree in advance about what their legal rights and entitlements will be, if any, to the other’s property if they break-up and their cohabitation ends. These Agreements can be made in writing before or after a couple begins cohabiting.
Prenuptial & Postnuptial Agreements
A Prenuptial Agreement is made between a couple in anticipation of marriage (as for example between engaged couples). A Postnuptial Agreement is made during the marriage. In either Agreement, the couple agrees ahead of time what happens to their property and what their legal rights and entitlements to it will be if their marriage ends.
Negotiating the Settlement Agreement
At Peaceable Settlements, you can choose a respectful, out of court process to negotiate the details of your Agreement with your spouse or partner by mediation, collaboration, or a combination of mediation-arbitration. Lorraine has years of experience and training as a lawyer and mediator. She understands the turmoil, worry and stress in family law matters and has helped many to reach comprehensive agreements tailored to meet their needs and those of their children.