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Difference between revisions of "Cohabitation and Living Together Agreements"
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Cohabitation and Living Together Agreements (view source)
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Issues relating to the care and financial support of children born to unmarried people are fairly straightforward, since legal issues about children mostly depend on whether someone is a ''parent'', not on the nature of the relationship between the parties. | Issues relating to the care and financial support of children born to unmarried people are fairly straightforward, since legal issues about children mostly depend on whether someone is a ''parent'', not on the nature of the relationship between the parties. Only married spouses and unmarried spouses may make claims for spousal support and the division of property and debt. | ||
===Deciding whether a cohabitation agreement is appropriate=== | ===Deciding whether a cohabitation agreement is appropriate=== | ||
The usual reason why a couple enters into cohabitation agreements is to protect their separate property and income, so that each person's property going into a relationship is preserved as much as possible if the relationship comes to an end. Sometimes one person wants to preserve property from claims by the other person ; sometimes a person will want to protect property from the other person's debts. Generally speaking, most couples who are thinking about executing a cohabitation agreement want a "I'll keep what's mine, you'll keep what's yours" sort of deal, and that's fine. | The usual reason why a couple enters into cohabitation agreements is to protect their separate property and income, so that each person's property going into a relationship is preserved as much as possible if the relationship comes to an end. Sometimes one person wants to preserve property from claims by the other person; sometimes a person will want to protect property from the other person's debts. Generally speaking, most couples who are thinking about executing a cohabitation agreement want a "I'll keep what's mine, you'll keep what's yours" sort of deal, and that's fine. | ||
Cohabitation agreements are usually entered into when: | Cohabitation agreements are usually entered into when: | ||
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*the relationship is expected to be a long one, | *the relationship is expected to be a long one, | ||
*one or both parties have a substantial amount of property going into the relationship, | *one or both parties have a substantial amount of property going into the relationship, | ||
*one or both parties | *one or both parties have significant debts going into the relationship, | ||
*one of the parties has significantly more income than the other, | *one of the parties has significantly more income than the other, | ||
*one or both parties expect to acquire property during the relationship from, for example, a business, an inheritance, a court award, a gift or employment income, | *one or both parties expect to acquire property during the relationship from, for example, a business, an inheritance, a court award, a gift or employment income, | ||
*one or both parties | *one or both parties are bringing a child into the relationship, or | ||
*the parties expect that spousal support may be an issue if the relationship ends. | *the parties expect that spousal support may be an issue if the relationship ends. | ||
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Staples, Chapters, London Drugs and other stores generally carry a wide range of DIY legal products, from doing your own will to getting your own divorce. | Staples, Chapters, London Drugs and other stores generally carry a wide range of DIY legal products, from doing your own will to getting your own divorce. | ||
In my view most of these do-it-yourself kits are fine for most people most of the time. However, cohabitation agreements can be complicated and must be drafted with a good knowledge of family law in general, cohabitation agreements in particular and the law applicable in British Columbia. | In my view most of these do-it-yourself kits are fine for most people most of the time. However, cohabitation agreements can be complicated and must be drafted with a good knowledge of family law in general, cohabitation agreements in particular, and the law applicable in British Columbia. Using a do-it-yourself cohabitation agreement kit is really not a good strategy. | ||
If you figure that you absolutely must have a cohabitation agreement, it's well worth $1,500 to $4,000 to | If you figure that you absolutely must have a cohabitation agreement, it's well worth spending $1,500 to $4,000 to have a lawyer draw it up correctly for you, rather than spending $15,000 to $40,000 on lawyer's fees down the road if the agreement is flawed. | ||
==Legal and formal requirements of a cohabitation agreement== | ==Legal and formal requirements of a cohabitation agreement== | ||
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*If a term of a cohabitation agreement is found to be invalid, only the invalid part of the agreement will stop being in effect. The remainder of the agreement will continue to be valid and binding on the parties. | *If a term of a cohabitation agreement is found to be invalid, only the invalid part of the agreement will stop being in effect. The remainder of the agreement will continue to be valid and binding on the parties. | ||
Aside from these considerations, it is also important to remember that cohabitation agreements | Aside from these considerations, it is also important to remember that cohabitation agreements that deal with property and debts or issues like spousal support are usually only meant to be used when the relationship comes to an end, at some unknown time in the future. As a result, it can be difficult to guess what each party's situation will be like when the agreement begins to operate and guess whether it will still be appropriate and fair. Because of these problems, hiring the services of a lawyer to prepare a cohabitation agreement is highly recommended. Crafting a solid cohabitation agreement is a tricky business at the best of times. | ||
<!---HIDDEN | <!---HIDDEN | ||
==Further Reading in this Chapter== | ==Further Reading in this Chapter== | ||
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* other chapters | * other chapters | ||
END HIDDEN---> | END HIDDEN---> | ||
== | ==Resources and links== | ||
===Legislation=== | ===Legislation=== | ||
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*[http://www.clicklaw.bc.ca/resource/1259 Canadian Bar Association BC Branch: Script on marriage agreements and cohabitation agreements] | *[http://www.clicklaw.bc.ca/resource/1259 Canadian Bar Association BC Branch: Script on marriage agreements and cohabitation agreements] | ||
{{REVIEWED | reviewer = [[JP Boyd]], March 24, 2013}} | |||
{{JP Boyd on Family Law Navbox|type=chapters}} | {{JP Boyd on Family Law Navbox|type=chapters}} | ||
[[Category:Family Law Agreements]] | [[Category:Family Law Agreements]] | ||
