If you’re in a relationship, there’s a good chance that you’ve at least thought about getting a prenup or cohabitation agreement. After all, if you’ve made it to the point where you’re thinking about moving in together or getting married, then it’s likely that your future together is important to both of you. And while some couples may choose not to put their relationship on paper, having a legal agreement can make things easier if something goes wrong later on down the road. It’s also worth noting that any legal agreements between partners need not be limited solely to separation agreements and prenups—there are plenty of other types of agreements out there!
Cohabitation agreements are a way to protect your rights in the event of a breakup if you and your partner are living together. Cohabitation agreements can cover a range of issues, including property, debt and support. In Manitoba, you are considered common-law if you have been living together for three years or one year if you have a child together. In Manitoba, if a common-law couple separates, each partner is entitled to half of the family property, if there is not an agreement saying otherwise.
If you’re in a relationship and plan to get married, prenups can be an excellent way to protect your assets. A prenup is not just for the rich and famous!
If one partner has more money than another, or if one partner brings more property into the marriage than another does (such as an inheritance), then having this information written down before tying the knot may help avoid future misunderstandings or disagreements over who owns what if you get divorced. It can also help avoid a contentious legal battle if divorce occurs, because you’ve already agreed to certain things.
If you aren’t sure if an agreement of this kind is right for you, or you’re not sure what you would include, it’s always best to speak to a lawyer who is experienced in these issues. At Wolseley Law, we offer flat rates for these types of agreements. To get more information, or to schedule a consult with one of our lawyers to discuss it, please contact our office.