What is a cohabitation agreement?
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Apr 17, 2015  |  Vote 0    0

What is a cohabitation agreement?

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As a law firm specializing in matrimonial law,  McLeod Green Dewar LLP & Associates offers legal services for all types of issues that can arise, including marriage contracts, divorces, custody agreements, division of property and more.  But, you don't have to be getting married to worry about your assets.  Once you live with someone, your assets will be combined under the eyes of the law.  If you break up or one of you passes away, the other could be entitled to a share of or all of your assets.  That's why it's so important to have a cohabitation agreement.

A cohabitation agreement is an agreement between two people who are or will be living together and who are not married to each other, about their respective rights and obligations during cohabitation, or when they separate or die.

With one of these agreements, you can protect your assets.  For example, if you are a homeowner and you have a substantial amount of equity in your home, when your partner moves in with you, they could have a claim towards some of that equity.

No one enters a relationship thinking that it will end badly, but unfortunately, it's often the case.  Hurt feelings can quickly turn to anger and cause the other person to seek some sort of revenge or solace by going after your assets.

When you meet with one of the legal experts at McLeod Green Dewar LLP & Associates, they will help you draw up an agreement that both parties are satisfied with.  The agreement can outline what assets belong to each person and what assets each person will take with them in the case of a separation.  It can also protect other members of your family if you pass away, helping to ensure that your will is followed and that all assets don't just revert to the person you are living with.

McLeod Green Dewar LLP & Associates has two offices to service you better.  In Kitchener, the office is located at 30 Duke Street West, Suite 605.  Call 519-742-4297 to make an appointment.  In Brantford, the office is located at 172 Dalhousie Street, Suite 201.  The office can be reached at 519-304-9191.  For more information, visit www.mgdlawyers.ca.

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