With a new year dawning, thoughts often turn to organization. One of the things that should be on your to do list is entering into a Cohabitation Agreement. The law in Alberta right now treats married and unmarried
couples differently. This document allows you and your partner to set out your understanding about what should happen if you separate or if one or both of you become incapacitated or die. It preserves your agreement around what assets are to be shared or not shared, how to deal with your home – particularly important if only one of you is on title – and creates a gameplan should any number of situations arise. For this agreement to be binding, independent legal advice is a must. The law will be changing as of January 1, 2020, so make inquiries into your rights and obligations now.