Flat Fee
Cohabitation Agreements
Straightforward, transparent pricing for legally sound Cohabitation Agreements (Pre-Nuptial Agreements)
At Kidston Helm Ross, we understand the importance of planning for the future. To provide clarity and financial certainty, we offer flat-fee pricing for drafting Cohabitation Agreements. A Cohabitation Agreement is sometimes referred to as a "Prenuptial Agreement" or "prenup." These agreements help couples establish clear terms for property ownership, financial responsibilities, and asset protection in a legally binding document.
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What’s Included?
Our Flat Fee Cohabitation Agreements include:
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Taking your instructions to understand your needs
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Preparing a comprehensive Cohabitation Agreement
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Providing your spouse/partner with a copy of the drafted agreement
Flat Fee Pricing
$2,500
plus taxes and disbursements
Family assets and debt with a total aggregate value less than $1 million
$5,000
plus taxes and disbursements
Family assets and debt with a total aggregate value of $2 million or more
$3,500
plus taxes and disbursements
Family assets and debt with a total aggregate value between $1 million and $1,999,999
The above prices are inclusive only of the work we perform to take your instructions, prepare the agreement, and to provide your spouse/partner with a copy of the drafted agreement. Any time spent thereafter to negotiate with your spouse/partner, or their lawyer, will be billed at our hourly rates.
Questions & Answers
Here are some common questions you may have when considering a Cohabitation Agreement
How do I know if I need a Cohabitation Agreement?
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A Cohabitation Agreement is sometimes referred to as a "prenuptial agreement" or "prenup." These types of agreements are used by couples before marriage or becoming common law spouses. The reason a couple would enter into such an agreement is to provide certainty regarding what would happen if the couple separated in the future. If they do separate, the cohabitation agreement will dictate how their assets and debts are divided and issues of support are determined. The Cohabitation Agreement governs the terms of the separation, instead of the Family Law Act and/or Divorce Act.
The most common reason why a couple signs a Cohabitation Agreement is to protect their separate property, assets, and income, so that each person's property going into a relationship is preserved and stays theirs if the relationship comes to an end.
What happens if we separate, and we don't have a Cohabitation Agreement?
If you do not have a signed cohabitation agreement, the default rules in BC's Family Law Act and/or the Divorce Act will automatically apply should your relationship come to an end.
Should I have my lawyer draft a Cohabitation Agreement if l haven't already discussed with my spouse/partner how we would want to divide certain assets if we ever do separate?
Probably not. A Cohabitation Agreement is just what it says it is... an agreement. In order to make an agreement, both parties must agree on all of the terms in the agreement. Accordingly, having your lawyer draft a Cohabitation Agreement before you and your spouse/ partner have agreed on how to divide certain assets is likely not appropriate. You must first reach a mutual understanding with your spouse partner about the assets you each want to protect, then a Cohabitation Agreement can be prepared
What information do my spouse/partner and I need to exchange when doing a Cohabitation Agreement?
Our firm will work with you to collect a host of financial and personal information when we open your file. Typically, we request tax returns, bank account numbers and balances, pension statements, details of any owned properties, credit card numbers and balances, and credit balances- including mortgages. The quicker you can provide the requested information to us, the easier it is for us to draft the agreement.
Once the agreement is drafted, and I approve it to be sent to my spouse/partner, what guarantee do I have that they will sign it?
Zero. There is no guarantee that your spouse / partner will sign the agreement. They are welcome to hire their own lawyer to review the agreement. If they hire a lawyer, then the lawyer may request changes to the agreement and begin a process of negotiating the terms in the agreement. Even if your spouse/partner doesn't hire a lawyer, they may still request changes in the agreement and seek to negotiate revisions to it. However, if you and your spouse / partner have put in the work up front to discuss what you both want out of the agreement and you have a mutual understanding of what the agreement will say, then any requested changes to the agreement will likely be limited and nominal.