If you have a cohabitation agreement, this agreement should already cover most of what happens with your wealth and income if you and your partner separate. If you don`t agree on cohabitation, you`ll probably need a separation agreement to manage a share of your assets and debts. A separation contract is a legal and binding contract between you and your partner. If you and your partner have children, your separation agreement should include a section on education and child care plans, as well as a share of ownership that would include sharing assets and liabilities. Marriage contracts are used when the parties are already married or about to marry. A marriage contract may set out the parties` intentions in terms of ownership and assistance. A marriage contract would be essentially detailed on how to deal with all issues, while married and/or at the end of your relationship. As a cohabitation contract, a marriage contract cannot determine custody and access to children or the obligation to assist children. The terms of an excessively harsh or fraudulent marriage contract are unlikely to be upheld by the Court. NOW THEREFORE, in light of the next cohabitation agreement and in light of the reciprocal commitments and alliances contained in this agreement, the parties agree that separation agreements can be used for both common law and married spouses. This type of contract is necessary when two spouses have decided to separate. They can be useful in defining agreements between the parties on all issues related to marriage or cohabitation, including custody and parenting, custody of children, spousal assistance, and the division of property and debt. Separation agreements can also be used as the basis for granting a divorce.
Relationship agreements can help the court decide what the parties` true intention was to establish their relationship. Depending on your circumstances, a court may order that your property be shared with your partner or that you support your partner with your spouse, even if you are not married. If you are in a relationship with significant assets or for which there is a significant income gap, it is advisable to discuss a possible cohabitation agreement with a lawyer. A lawyer can ensure that the agreement you have reached will have the effect you wanted. In addition, the development of your agreement by a lawyer is a consideration that may increase the likelihood that your agreement will be accepted by a court if the agreement is challenged in the future.