Cohabitation and Prenuptial Agreements
When entering a new relationship, it is common for people to have concerns about how to protect their assets. One way that this can be done is through a cohabitation or prenuptial agreement. These agreements allow couples to set out how their assets and debts may be divided at separation.
Addressing Assets, Debts, and Spousal Support During the Relationship
Assets and debts that you have before you begin to live with someone can be protected by a cohabitation or prenuptial agreement. Additionally, you can plan on how assets and debts accumulated during the relationship may be divided if you separate. Spousal support is also something that can be addressed in these agreements.
The Risks of Online Prenuptial Agreement Templates
There are free templates for prenuptial agreements on various websites but these should be handled with caution. The laws on family property are different in each province and the agreement will need to be written to address them. Many of these online templates also come from the USA which has very different laws around spousal support and property rights. Also, sometimes these templates are not drafted very well and have numerous errors and problems that could be challenged later in court. If you are serious about protecting your property and assets, a lawyer in your province should draft your prenuptial or cohabitation agreement.
Additional Resources
- Read more from our resources section on Cohabitation and Prenuptial Agreements.
Crossroads Law's Transparent Pricing for Legal Services
At Crossroads Law, we provide flat rates for many legal services including cohabitation and prenuptial agreements. Our flat rate for an uncontested* cohabitation or prenuptial agreement is $3,299 and includes meetings with you, drafting and editing the agreement, and a final meeting to review and sign the finalized agreement.
For a FREE initial consultation on your family law agreements, please reach out to us.
*uncontested agreements are those in which the parties agree on how to deal with assets and support.If the parties cannot agree and negotiation is required, you will not be eligible for this flat rate service. Instead, an hourly rate will apply based on the lawyer retained. For more information, see our billing page.
Prenuptial agreements play a crucial role in estate planning by determining how assets are handled upon the death of a spouse. They can designate certain assets as separate property, ensuring they are not divided upon death and can be passed on as intended, such as to children from previous relationships.
When moving to a different province or country after signing a cohabitation or prenuptial agreement, its enforceability may be uncertain due to varying local laws.
Cohabitation and prenuptial agreements can be challenged and potentially overturned in court, especially if considered unfair or invalid. Courts generally aim to uphold such agreements, but they scrutinize them based on legislative objectives like those in Alberta's Family Property Act and British Columbia's Family Law Act.
The need to update a cohabitation or prenuptial agreement depends on individual circumstances, but there are key situations when a review is advisable.
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Cohabitation and Prenuptial Agreements Legal Resources
Everything You Need to Know About Adult Interdependent Partnerships in Alberta
When two people get married, they enjoy new rights and benefits, such as the right to divide family property upon divorce. Historically, under the law, these rights were exclusively reserved for married people.
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Are you in marriage-like relationship?
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