Cohabitation and marriage agreements serve as essential legal tools for couples to define their rights and responsibilities in various aspects of their relationship.
Cohabitation agreements are relevant for couples planning to live together, outlining matters such as property division, financial responsibilities, and potential spousal support in the event of separation.
Marriage agreements, also known as prenuptial agreements, are legal documents designed for couples prior to getting married: however they may also be established after marriage. A marriage agreement allows couples to establish terms regarding property division, financial matters, potential spousal support, and matters concerning children, including child support and parenting obligations, in the event of divorce or separation
Both cohabitation and marriage agreements provide a proactive approach to addressing potential disputes and uncertainties, offering clarity and legal protection for both parties.
Cohabitation & Marriage Agreements in British Columbia
When building a life together, couples often focus on the excitement of the future—buying a home, starting a family, or exploring shared dreams. However, every couple’s situation is unique, and having a cohabitation or marriage agreement can provide clarity and peace of mind. These agreements help prevent disputes and protect both partners’ interests, offering a practical way to address important aspects of your relationship.
Navigating the complexities of cohabitation and marriage agreements requires experienced legal guidance. Whether you’re just beginning your journey together or have been living as a couple for years, these agreements can establish a solid foundation for a secure and harmonious partnership.
What Are Cohabitation and Marriage Agreements?
- Cohabitation Agreements: These agreements are designed for couples in a common-law relationship, outlining rights and responsibilities related to property, debt, and financial support. They are particularly important in British Columbia, where common-law couples may have similar rights to married couples after two years of living together. Cohabitation agreements can also benefit couples moving in together for the first time or buying property together for the first time, helping establish clear terms and expectations. Read what is a spouse? here.
- Marriage Agreements (Prenuptial or Postnuptial): These agreements outline how property and finances will be managed during the marriage and in the event of separation or divorce. They can also address spousal support and other financial obligations.
Both agreements aim to prevent disputes by clearly defining each partner’s rights and obligations, ensuring transparency and fairness. Our experienced family lawyers can guide you through the process of creating or reviewing these agreements, ensuring they are fair, legally sound, and tailored to your specific circumstances.
Why Consider a Cohabitation or Marriage Agreement?
Discussing financial and legal matters may feel uncomfortable but addressing them early can help couples avoid significant legal and emotional challenges in the future. A cohabitation or marriage agreement isn’t about doubting your relationship, it’s about demonstrating mutual respect and creating a transparent and fair framework for your partnership.
Taking the time to set up a legal agreement reflects care and foresight for both your present and future as a couple. Every couple’s situation is unique, and various considerations may come into play.
Some of the most common reasons include:
- Protect Assets: Clearly define ownership of property, savings, or inheritances brought into the relationship.
- Manage Debt: Outline how debts acquired during the relationship will be handled.
- Plan for the Future: Address potential support obligations, ensuring clarity in the event of separation or divorce.
- Prevent Disputes: Minimize misunderstandings and conflict by having a legally binding agreement in place.
Read more about dealing with property and debt here.
What Can Be Included in the Agreement?
Cohabitation and marriage agreements can cover a wide range of issues, including:
- Division of property and assets.
- Responsibility for debts and liabilities.
- Spousal support terms and obligations.
- Rights to inheritance or gifts.
- Financial contributions during the relationship.
Modifying or Reviewing Agreements
Life circumstances can change, and cohabitation or marriage agreements may need to be updated to reflect new realities, such as:
- A significant change in income or assets.
- The birth or adoption of children.
- A change in property ownership.
- Our lawyers can help you review and revise existing agreements to ensure they remain relevant and fair.
Cohabitation & Marriage Agreement Lawyers in Port Moody
At Alder Law, we understand the importance of protecting your rights and ensuring clarity in your relationship. Cohabitation and marriage agreements enable couples to define their financial responsibilities, property rights, and support obligations.
We have been helping clients across BC from our office in Port Moody for over 20 years and proudly serve clients across the Tri-Cities, the Fraser Valley, and throughout British Columbia.
Do you need help with a legal agreement? Please call us at 604 936 9600, email [email protected] or complete the contact form and we will be in touch.
FAQs
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Are cohabitation agreements only for common-law couples?
No, cohabitation agreements are not limited to common-law couples. While they are often used by couples who are not married but live together in a common-law relationship, these agreements can also be created by couples before moving in together for the first time. They help outline rights and responsibilities similar to those found in a marriage agreement.
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When should we create a marriage or cohabitation agreement?
Ideally, these agreements should be created before moving in together (cohabitation) or before marriage. However, they can also be established during the relationship to address specific concerns.
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Can a cohabitation agreement protect my assets?
Yes, cohabitation agreements can clearly define ownership of property, savings, or inheritances, protecting your assets in case of separation.
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Can we modify our agreement after signing it?
Yes, agreements can be updated if circumstances change. It’s important to consult a lawyer to ensure the revised agreement remains valid and enforceable.
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Do I need a lawyer to create or review these agreements?
While it’s not legally required, having a lawyer ensures the agreement is fair, complies with BC law, and protects your interests.
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Are these agreements legally enforceable?
Yes, provided the agreements meet certain legal requirements:
- Both parties must provide full financial disclosure.
- Both parties must enter the agreement voluntarily, without coercion.
- The terms must be fair and reasonable at the time of signing and when enforced.
Seeking independent legal advice is crucial to ensure the agreement is valid and enforceable under British Columbia law.
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