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Protect Common Law Partner Agreement

Protect Common Law Partner Agreement

Aug 6th, 2022

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How to Protect Common Law Partner Agreement

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In this video tutorial, the speaker discusses common pitfalls to avoid when getting married, particularly related to real estate and joint ownership. A key point is that individuals often hastily add a partner's name to an asset like a home to demonstrate commitment, but this can lead to significant legal issues. The distinction between being married and unmarried is crucial; married couples have specific rights regarding the matrimonial home, which is typically divided equally (50/50) upon separation, regardless of prior ownership. The speaker stresses the importance of knowing these implications before making such decisions, especially given that many people remain unaware of their rights in these situations.

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

How do you protect your assets in common-law relationships?

The best way to protect your finances is to arrange a prenuptial (pre-nup) or marriage agreement before you become legally bound to each other. This minimizes complications if the two of you separate in future. If you are living with your partner under common law, this is called a cohabitation agreement.

Is there a prenup for common-law?

You can prepare a prenuptial agreement, postnuptial agreement, marriage agreement, or domestic contract during your marriage or common-law relationship.

How do you protect common-law?

A Cohabitation Agreement is the best way to protect yourself from the uncertainty of separating from a common-law spouse. In it, you and your partner can decide how to arrange finances and how to deal with property, support, and debts if you separate.

Do cohabitation agreements hold up in court?

Cohabitation and Marriage Agreements can be reviewed and overturned by the court in certain circumstances, such as where the agreement is objectively unreasonable, or if the agreement was entered into through undue influence, duress or coercion.

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