Can both spouses agree to waive equalization entirely in their separation agreement?

Yes. Under the Family Law Act, spouses can contract out of equalization entirely through a domestic contract — either a marriage contract signed before or during the marriage or a separation agreement signed after separation. If both parties agree to waive equalization, that agreement is generally binding.

Courts will uphold an equalization waiver if it was freely and voluntarily made, with proper financial disclosure, and both parties had access to independent legal advice. A waiver signed without understanding the value of what is being given up, or under pressure, may be set aside.

Waiving equalization is sometimes chosen when each spouse prefers to keep what they already own without going through the calculation process — particularly when the parties have roughly equal assets or wish to make a clean break. However, it is important to understand the value you may be giving up before agreeing to waive. Getting legal advice before signing any waiver is essential, not optional.