Considering living together?

Here’s why you should think about a cohabitation agreement

Whether you’re moving in together or planning a wedding, your finances deserve just as much attention as your guest list or lease agreement.

That’s where a cohabitation agreement comes in. This legal document isn’t about anticipating the failure of your relationship, it’s about clarifying financial interests and making your relationship stronger as you build a life together.

Much like prenuptial agreements for married couples, cohabitation agreements provide a structured way for unmarried partners who live together, even if marriage isn’t on the horizon, to define each other’s rights and what happens if the relationship doesn’t work out.

 

Why consider a cohabitation agreement?

Many people assume that living together for a certain amount of time gives them the same legal rights as married spouses. But in most provinces, this isn’t the case.

Here’s what you should know:

• Married couples typically have automatic legal rights regarding the division of marital property and spousal support.
• Common-law partners, on the other hand, may not be entitled to the same benefits, even after many years of cohabitation.

A cohabitation agreement helps address this gap by creating a clear, enforceable contract that defines each partner's rights and obligations. This type of agreement is particularly useful for protecting personal property and managing assets, debts and financial responsibilities within your relationship – and how they would be handled if you separate.

How we can help

• 1. Clarify financial goals as a couple
  We help you align on your short- and long-term financial goals, whether it’s buying a home, saving for children’s education, or planning for retirement.
• 2. Protect your interests
  If one partner has significant assets, income, or debt or has been through a previous divorce, we’ll help you set structure your finances in a way that protects what matters to each of you.
• 3. Plan for ‘what ifs’
  We walk you through realistic scenarios: What happens to the home if you split up? How will jointly owned property be handled? Who’s responsible for which debts? These are difficult questions, but having honest answers now avoids conflict later.
• 4. Coordinate with legal professionals
  We work alongside your lawyer or notary to make sure your legal agreement reflects your full financial picture.
• 5. Estate and family planning
  In blended families or when family gifts or inheritance are involved, we can help protect those assets and make sure your estate planning supports both partners’ interests.

Starting the conversation

It may feel awkward to discuss legal agreements and money early in a relationship, but it’s not just about protection, it’s about partnership. Talking about money early on is a great opportunity to have open, honest communication about financial expectations, responsibilities and long-term goals.

Even if you decide not to move forward with a formal agreement, having the conversation can bring clarity and reduce the chance of misunderstandings down the road.

Talk to us

Planning for a future together involves more than choosing a home or organizing a wedding, it also means protecting your individual and shared interests. Whether you're getting married or just moving in together, we can help you see the bigger financial picture and work together to create an agreement that protects your future.

Contact us