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BC Family Law Act, cohabitation agreement, Jessica England, marriage agreement, mediation, settlement, support agreement
Couples enter into different kinds of marriage and cohabitation agreements for different reasons. Each agreement is specific to the needs and wishes of the couple, and some are quite simple, while others are more detailed or more complex. In some cases, one or both parties simply wish to protect assets accumulated before the relationship, but would like to move forward in the relationship pooling their income and acquiring assets together. In other cases, a party might wish to protect assets such as property embroiled in expensive and troublesome litigation in the future. Some parties may wish to have both separate and joint assets throughout their relationship, or may wish to preserve certain items that have sentimental value to them. Many couples who are well-established in their lives and careers already, particularly if they have children from a previous relationship, choose to maintain separate financial affairs throughout their relationship. In the latter case, the parties may wish to specify how the parties would each contribute to the amenities and resources that they share. Spousal support is also an issue that may or may not be addressed by the parties to the agreement. There are as many different agreements as there are couples, with each couple expressing different needs and expectations.
By Jessica England, LL.B., Vancouver Family Law Lawyer with WESTSIDE Family Law