Common Law Cohabitation Lawyers in Vancouver & Surrey
Our common law cohabitation lawyers in Vancouver know that whether you are about to cohabit or live with someone or whether you already are, it is extremely important to get to know your rights and obligations as a cohabiting spouse.
You may face losing fortunes and having obligations which you did not think you would have just by living with your partner; even for a short amount of time. For this reason, it is very important to understand what cohabitation legally entails and how to act smart about it.
We always recommend for cohabitating spouses to enter into cohabitation agreements in BC. This is for a variety of reasons which we will explain below:
What is a Cohabitation Agreement in BC?
A cohabitation agreement is a legal contract spouses who are about to live together, or already live together, enter into. Cohabitation agreements can discuss a variety of issues including:
- What happens to property you bring into the relationship;
- What happens to property you accumulate during the relationship?
- Will spousal support be payable if the relationship breaks apart?
- Who will pay for the household expenses during the relationship?
- What happens if you purchase something under your own name while cohabiting?
- What if something is purchased jointly?
- Will you sell the house if the relationship breaks down or will one person buy it out?
- And many other factors.
What is the Purpose of a Cohabitation Agreement?
A cohabitation agreement can help you in a number of ways: it can confirm your responsibilities to each other and to your children, protect each other’s assets, and provide support in the event that your relationship breaks down.
Why You Need a Cohabitation Agreement
One of the main benefits of having an agreement in place is that it protects you from your partner’s debt. Without an agreement in place, one person may end up having to pay for the other person’s credit card bills or other debts.
You might not think you need a cohabitation agreement because you are not formally married. But if you both contribute money towards the house or provide financial support to each other or have children together, then it’s worth considering.
What Types of Cohabitation Agreements are there in Vancouver and BC?
There are several types of cohabitation agreements in BC. They include:
- Cohabitation agreements that confirm the spouses are common law as at a certain date. These agreements do not discuss any other arrangements.
- Cohabitation agreements that lay out who is responsible for what during the cohabitation, which expenses each person would pay and how to divide household responsibilities;
- Cohabitation agreements which only discuss what would happen if the spouses separate and not what happens during the relationship. These agreements discuss asset division, debt division, spousal support, etc.
- Cohabitation agreements that discuss both what happens during and after separation. These are the most popular agreements we at YLaw do.
How Much Does a Cohabitation Agreement Cost in Vancouver?
The cost of cohabitation agreements in Vancouver and throughout British ColumbiaBC vary depending on the complexity of finance, income, children and prior relationships. Generally, straight forward cohabitation agreements could cost approximately $2,500 plus taxes and could go as high as $50,000 for the more complex types. These agreements are customized and are generally 15 to 60 pages long.
- Meeting with client;
- Providing legal advice;
- Drafting the agreement;
- Revising the agreement;
- Negotiating;
- Providing Independent legal advice when the agreement is finalized;
- Execution of the agreement;
- Finalizing the matter.
Is a Cohabitation Agreement Legally Binding in Vancouver & British Columbia?
A properly drafted cohabitation agreement is absolutely binding and the reason for why people enter into it in the first place. Proper cohabitation agreements are generally drafted by lawyers, follow BC laws and not templates which are generic online, avoid significant unfairness, etc.
Cohabitation agreements are one the smartest things to do to plan for your present and future relationships. If done properly, they can save you fortunes in legal fees and loss of assets.
What Should a Cohabitation Agreement Include?
What a cohabitation should include depends on the circumstances of each spouse. Generally cohabitation agreements can include:
- How assets are divided;
- How debts are divided;
- What happens to the estate of one spouse if he/she dies during and after relationship?
- Is support payable and if so, how much?
- The date of cohabitation or common law relationship, etc.
Can I Make my own Cohabitation Agreement?
You can make your cohabitation agreement. But its force or validity will be open to challenge in the future if you do not follow the appropriate legal procedures that would safeguard the agreement against challenge. These include:
- Full and proper financial disclosure;
- Independent Legal Advice;
- Following BC Laws and not online templates;
- Lack of duress, mistake or undue influence;
- Lack of fraud or misrepresentation, etc.
- Lack of significant unfairness.
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