Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Introductions

Introductions If you're new to the forums, drop by and introduce yourself.

Closed Thread
 
LinkBack Thread Tools
  #1 (permalink)  
Old 02-06-2012, 03:21 PM
Junior Member
 
Join Date: Feb 2012
Posts: 1
mmurr080 is on a distinguished road
Default Hello. I'm new and need advice. Thanks.

Hello,

I am new to this site but have found lots of valuable information. There are still a few things that I am not certain on.

I’ll start with my current situation. I am a young professional cohabitating with my common law partner who is also a young professional. We currently have no written cohabitation agreement. I make around 57K and she makes around 52K. I have approximately 65K in liquid assets (cash, stocks, rrsp) and she has a debt of approx 35K between osap and my line of credit that I allow her to use and pay back.

There is a large gap in our spending habits and when we first started together we have always agreed verbally to keep separate finances. We each pay half of rent and utilities and the money we have made individually is ours to spend.
I am looking to purchase real estate in the next year and want to make sure I am well protected in case we ever break up.
I don’t fully understand the need for a cohabitation agreement when Ontario common law states that we have similar benefits to marriage excluding property division. From what I have read a cohabitation agreement ensures this in writing, but is it necessary over and above the current law? Do cohabitation agreements protect you if this law changes? If the law changes in the future to say common law couples divide assets upon breakup are they unprotected without a cohabitation agreement?

From what I’ve seen online cohabitation agreements done by a lawer can cost up to 6 000$ in legal fees. I have also seen generic online cohabitation agreement forms online that I can purchase for 20$ and a lawer is not required as a notary. As I am looking to protect my assets more than spend them, and I need to keep my assets for my upcoming down payment on property; Are generic forms reliable enough to make a cohabitation agreement or is lawer involvement a necessity for accuracy and durability of the legal document. Please let me know your methods and referrals.

Thank you everyone who replies. I’m happy to join this online community.
  #2 (permalink)  
Old 02-06-2012, 09:09 PM
Senior Member
 
Join Date: Mar 2011
Posts: 485
staysingle is on a distinguished road
Default

There is no way to "protect" yourself if the relationship breaksdown. Family law is completely out of control in this country. If your income and assets increase while together...and you split up....you owe. Do yourself a huge favor and research family law extensively.

In my analysis and experience, you keep your place and she keeps her place. Then and only then you can protect yourself.

It is truly sad we all have given lawyers and judges this capacity to ruin lives on the dissolution of a personal relationship.

This decision before is , arguably, the biggest threat to your well-being

Good luck
  #3 (permalink)  
Old 02-06-2012, 11:47 PM
hadenough's Avatar
Senior Member
 
Join Date: Sep 2011
Posts: 2,468
hadenough is on a distinguished road
Default

There are actually some good books at the library that address most of, if not ALL of the concerns you have. Definitely research this. I was just at the library today and was quite impressed w/the info and books available. IF ONLY I'd read all these materials before I got into the shit-storm I landed in. There's a lot you can do to protect yourself and minimize the "damage" in the event that there is a parting of ways, in your future.
  #4 (permalink)  
Old 02-07-2012, 06:19 AM
Tayken's Avatar
Senior Member
 
Join Date: May 2011
Posts: 6,472
Tayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant future
Default

Quote:
Originally Posted by hadenough View Post
There are actually some good books at the library that address most of, if not ALL of the concerns you have. Definitely research this. I was just at the library today and was quite impressed w/the info and books available. IF ONLY I'd read all these materials before I got into the shit-storm I landed in. There's a lot you can do to protect yourself and minimize the "damage" in the event that there is a parting of ways, in your future.
"Tug of War" is a good book to start with. (By Justice Brownstone)

There are a lot of bad books out there. I have compiled a list but, the information is at my office and not accessible to me at this time.

Another book that I often recommend is "Splitting" by William Eddy and "It's All Your Fault!" and "High Conflict People in Legal Disputes". These are specifically for people facing litigation from someone who is a persuasive blamer and has mental health issues potentially.

Good Luck!
Tayken
Closed Thread

Tags
cohabitation agreement, common law separation


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -4. The time now is 06:10 PM.