A cohabitation agreement is commonly used when two people are considering moving in together. The cohabitation agreement will document many things for both parties, and what exactly is to happen in the event of a split. These are common when people decide to live together but still would like to live a little independently financially so a cohabitation agreement can provide for this.
A marriage contract is often used by people who are getting married and want to outline somethings on a contract before the big day. Usually some of the items can be assets, money, inheritance, liabilities, and more. Marriage contracts are also becoming more and more common now when people get married because they provide all parties with a good understanding of assets, liabilities, and more going into a marriage.
A marriage contract is also known as a prenuptial agreement or prenup. Prenuptial agreements can be tricky to bring up to a future husband or wife, and sometimes can throw the other party a little off. But if done correctly with the right intentions in mind, a prenuptial agreement can provide a good basis of understanding for a husband and wife going forward in their marriage. But a prenup needs to be entered into with care, and a family lawyer with experience in these matters is definitely required.
Watch this episode with mississauga real estate agent Joe Terceira and family lawyer Todd Slonim of Devry Smith Frank LLP where he explains marriage contracts, cohabitation agreements, prenuptial agreements, and much more.
For more information on family law, or if you’re looking for a divorce family lawyer contact Todd Slonim
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