Cohabitation Agreement Lawyers | Calgary
Cohabitation Agreements are sometimes referred to as prenuptial agreements, domestic agreements or marriage contracts. While similar in use and form, a cohabitation agreement is for couples who are, or will be, living together. These couples do not have to be married. These include both common law couples and couples who live together prior to marriage. There is equal importance for all couples without regard to gender orientation. Kahane Law in Calgary, Albert is able to help you with your cohabitation agreement 403-225-8810.
What Are Cohabitation Agreements For?
Cohabitation agreements create a legally binding contract between two people who are, or will be, living together. They set out all the rights and obligations of both parties in the event of a breakdown of the relationship. This means that if the couple breaks up, who gets what and pays for what is already set out. Having agreed to things in the cohabitation agreement while a relationship is healthy should mean that there is less fighting if the relationship does not work.
Cohabitation Agreement Benefits
When splitting up property becomes a legal battle, both parties usually have increased legal fees. Cohabitation agreements, reduces the guesswork and arguments for the division of assets and debts. Couples who do not have to go to court to decide the division of debts and assets save money over those who do. Further, there is an emotional cost to prolonged legal disputes which may be avoided by predetermining rights and obligations. Cohabitation agreements can also be used to protect the rights of the children of one of the parties to the relationship. By setting out who is responsible for what in a relationship, fights may be avoided.
Who Should Have a Cohabitation Agreement?
Any couple who decide to live together should have a cohabitation agreement in place. The more assets that are involved, specifically real property like houses, the more important cohabitation agreements are from a financial perspective. Much like fire insurance on your house, a cohabitation agreement is something that you should have but hope to never need to use.
What do Cohabitation Agreement Lawyers Do?
When our cohabitation agreement lawyers draft agreements, they first explain to you what your rights and obligations are. You can then decide, with your partner, how you will deal with things on a breakdown of the relationship. It is extremely important that the cohabitation agreement is drafted properly. It is also extremely important that each party have independent legal advice with respect to the agreement. Our goal is to make sure that all agreements are fair and well understood before they are signed. REMEMBER: you will need independent legal advice for al cohabitation agreements in Alberta.
Learn more from our Cohabitation Agreements lawyers
What is Included in a Legal Cohabitation Agreement?
Cohabitation agreements generally include terms about the following:
- How assets each person brought into the relationship are divided;
- What specific property is excluded from division;
- How debts are divided;
- How assets purchased together are divided;
- Who pays which expenses during the relationship;
- Payment of spousal support;
- Who gets the home on a breakup;
- Rights and obligations during the relationship;
- Who makes educational and moral decisions relating to their children; and
- Any other specifically agreed to matter.
How Can You Change the Cohabitation Agreement?
Sometimes life and relationships change. This means that a couple may want to change some or all of the terms in the cohabitation agreement. Like any agreement, a cohabitation agreement can be changed as long as both people agree. Our lawyers can help make sure that changes are done correctly.
Retaining Cohabitation Agreement Lawyers in Calgary, Alberta
The family law team at Kahane Law Office understands the complexities of cohabitation agreements in Alberta. Let us help you understand your rights and responsibilities and protect yourself and your partner in the event of a breakdown of your relationship.
To schedule a consultation with a member of our family law team to discuss a cohabitation agreement, please contact our experienced team at Kahane Law Office. You can reach us locally in Calgary at 403-225-8810 or toll-free at 1-877-225-8817, or email us directly here.