Cohabitation, Prenuptial & Postnuptial Agreements
If you are living with your partner, married, or considering marriage, an interspousal agreement can ensure that your interests are protected. R&R Legal Group can help you determine what type of Agreement you need for your situation and draft the Agreement for you to bring you peace of mind knowing that you have an Agreement in place that protects your legal interests.
There are a number of different Interspousal Agreements, such as a Cohabitation Agreement, Prenuptial Agreement and Postnuptial Agreement. What is the difference between them?
Cohabitation Agreement
A Cohabitation Agreement is a contract between a couple that is living together, but currently do not intend to get married. While the contract can have whatever you want in it, it typically will contain the rules about how property is to be owned by each party, how each party wishes to divide the property if they were to separate, and how property should be distributed on the death of either party.
One of the main reasons that a couple signs a Cohabitation Agreement is because after you have lived together with someone for two years you are determined to be common law spouses. In Saskatchewan if you are common law and you separate, your property will be split as if you were a married couple. If you are in a common law relationship or are about to be in a common law relationship, it is best to speak to a lawyer to understand your legal rights and obligations in regards to your income and property.
Prenuptial Agreement
A Prenuptial Agreement is sometimes referred to as a “Prenup” and is a legal contract between a couple in contemplation of their marriage. Like a Cohabitation Agreement, a Prenuptial Agreement could also set out how property is to be owned by each party, how each party wishes to divide the property if they were to separate, and how property should be distributed on the death of either party.
Postnuptial Agreement
A Postnuptial Agreement is a legal contract signed by the couple after they are married. Like the Agreements discussed above, a Postnuptial Agreement sets out how each party wishes to divide the property if they were to separate or if either party were to pass away. A Postnuptial Agreement is common when a family trust has been created after the couple has married. Another common reason to obtain a Postnuptial Agreement is if one spouse wants to protect a family inheritance that they are to receive.
You want to ensure that your Agreement accurately reflects your intentions and you want to be able to rely on it. R&R Legal Group can help you decide which Agreement is most appropriate and ensure that you protect your legal interests and avoid a lengthy and expensive legal battle if you and your spouse were to separate.