If you`re in a common-law relationship in Winnipeg, it`s important to consider drafting a cohabitation agreement. A cohabitation agreement is a legal document that outlines the rights and responsibilities of two people who are living together but are not married.
Why You Need a Cohabitation Agreement in Winnipeg
A cohabitation agreement is especially important if you and your partner own property together, have joint bank accounts, or share a mortgage. In the event of a separation, a cohabitation agreement can help to protect your assets and ensure that both parties are treated fairly.
Without a cohabitation agreement, common-law partners are not entitled to the same legal protections as married couples. This means that if you and your partner separate, you may not be entitled to an equal division of property, spousal support, or other benefits that are typically available to married couples.
What Should Be Included in a Cohabitation Agreement?
A cohabitation agreement should be tailored to your specific circumstances and cover all of the things that are important to you and your partner. Some of the things that you may want to include in a cohabitation agreement include:
– How property will be divided in the event of a separation
– Whether spousal support will be paid and if so, how much and for how long
– How joint debts will be divided in the event of a separation
– Whether one party will be entitled to a share of the other party`s pension or retirement benefits
– How bank accounts and other financial assets will be managed during the relationship and in the event of a separation
– How any jointly-owned businesses or investments will be handled in the event of a separation
In addition to these issues, you may also want to include provisions for things like pets and other personal property, as well as details about child custody and visitation if you have children together.
Working with a Lawyer to Draft Your Cohabitation Agreement
If you`re interested in drafting a cohabitation agreement in Winnipeg, it`s important to work with an experienced family lawyer who can help you to navigate the legal system and ensure that your agreement is legally binding.
A lawyer can help you to identify the issues that are important to you and your partner, and can draft a cohabitation agreement that is tailored to your specific circumstances. They can also help you to negotiate the terms of your agreement and ensure that both parties are happy with the final product.
In conclusion, a cohabitation agreement is an important legal document that can help you to protect your assets and ensure that both parties are treated fairly in the event of a separation. If you`re in a common-law relationship in Winnipeg, it`s wise to consider working with a lawyer to draft a cohabitation agreement that meets your needs and gives you peace of mind for the future.
