2. Typical things contained in a prenup and things that the law expressly prohibits, including in the agreement. Which are cohabitation agreements for: “Where I most often see cohabitation agreements is when it comes to property issues with mom and dad, because in most jurisdictions there is no presumed claim,” says Boyd. Where you see is where couples enter into a relationship with great inequality in the assets or debts they have. Benefits: Like marital agreements, a cohabitation agreement can protect the individual if the relationship ends, Boyd says. Who are the marriage contracts for: Marriage contracts are reserved for legally married couples, not the common law or other partnership agreements, Boyd explains. To what extent are cohabitation agreements popular?: If marital agreements are not popular, cohabitation agreements are even fewer, says Boyd. At MDW Law in Halifax and Bedford, our lawyers understand the sensitivity of these legal contracts. We ask a number of questions to our clients to determine the purpose of their agreement in their unique circumstances.
We make sure that we understand the financial situation of both parties. If you are in a marriage with a significant fortune or have already divorced and want to protect your remaining assets, a lawyer can help you work out an agreement on how your financial and wealth affairs are handled if your relationship disintegrates. You can, for example. B, establish a relationship with someone who has a lot of debt and wants to protect your assets from the debts of your partner`s creditors, or you want to protect your assets and pass them on to your children. In each of these situations, you should speak to an experienced lawyer for the legal advice you need. There is no legal obligation for couples to enter into a pre-marriage agreement, but such an agreement can give the parties some control over the economic consequences of their break-up. For example, when a couple separates, the provisions of the Marriage Property Act apply to the division of their property.