Marriage Contracts & Cohabitation Agreements
A marriage contract
is an agreement between two people getting married, or who are already married, that sets out their rights and obligations during their marriage, if they should separate, or if one party should die. The contract, with some exceptions, can change the law governing married couples found in the Divorce Act, Family Law Act and common law, to suit the needs and wishes of the parties.
|
A cohabitation agreement
is the same as a marriage contract except the parties are not presently married. A cohabitation agreement would also be the name of an agreement for a couple intending to live in a common-law relationship.
Anyone who wants different rights than those rights outlined in the Family Law Act and the Divorce Act should consider having a marriage contract or cohabitation agreement. For example:
Anyone who wants different rights than those rights outlined in the Family Law Act and the Divorce Act should consider having a marriage contract or cohabitation agreement. For example:
- anyone who does not wish to share their growth of assets during the course of the marriage;
- somebody who wishes to ensure that s/he will not be required to pay spousal support in the event that the relationship dissolves;
- a person who brings a property into the marriage (e.g. a home, a cottage) and wants to ensure that entire value of this property is not shared in the event the marriage does not last.
FAQs About Marriage Contracts & Cohabitation Agreements
|
|
How much does a marriage contract or a cohabitation agreement cost?
Lawyers generally do not have a set price for preparing a contract of this nature; they will charge for the time it takes to prepare the document. The time it takes will depend on a variety of factors, including the number and nature of the assets and whether there is a great disparity between the parties’ respective incomes and assets. If there is no disagreement between the parties and we are dealing with a relatively simple marriage contract, the cost is usually within the $1,000.00 to $1,500.00 range. Blake's hourly rate for preparing such an agreement is $300.00. Laura's hourly rate is $200.00.
|
|
|
Can I include provisions dealing with child support and custodial arrangements in my marriage?
You could, I suppose, but these types of provisions are not enforceable. The courts always have the authority to override child support and custodial provisions which are deemed not to be in the best interests of the children.
|
