Pace Law Firm (866-340-3175), a multi-service law firm based in Toronto, has released a new guide on domestic contracts.
-- With recent trends showing a decline in marriages and an increase in cohabitation, Pace Law Firm has published its latest guide to discuss common-law relationships and why couples in such a relationship may want to consider signing a cohabitation agreement. The guide also discusses how the legalities in cohabitation and marriage differ and what any couple should do to prepare for potential separation.
For more information, please visit Pace Law Firm's website.
The number of common-law relationships has increased in recent years, and this is attributed to changes in law, social attitudes, and religious beliefs. According to Seneca Notes, this coincides with a steady decline in marriage over the past 50 years as people are marrying later in life or living together, with the latter becoming widespread as an informal arrangement between individuals in a temporary or casual relationship or as a precursor to marriage. Growing economic independence, particularly among women, is also a factor driving rising cohabitation rates.
Although couples may decide to live together to avoid the potential legal implications of marriage and divorce, Pace Law Firm’s guide stresses the importance of preparing a cohabitation agreement. This legal document specifies each party’s rights, such as shared responsibilities, any assets and debts each person has when they begin living together, how shared property will be divided in the event of separation, and the terms of repayment for shared debts in this event.
While a cohabitation agreement will prevent inequality if the couple does separate, it can also be modified as the relationship changes. However, should the couple eventually decide to formally marry, Pace Law Firm’s guide says that they will have to consider a prenuptial agreement, which will ensure assets are adequately divided in the event of a divorce. Although the guide recommends drafting and signing an agreement before the wedding, this can also be done any time after.
Individuals who require services related to cohabitation agreements, prenuptial agreements, or other areas of family law are encouraged to contact Pace Law Firm for a complimentary consultation. Having been established in 1981, the firm is well-versed in all areas of law and can serve clients in over 38 different languages.
Interested parties can learn more by visiting Pace Law Firm's website.
Contact Info:
Name: Robin Bell
Email: Send Email
Organization: Pace Law Firm
Address: 191 The West Mall Suite 1100, Toronto, ON M9C 5L6, Canada
Website: https://pacelawfirm.com
Source: NewsNetwork
Release ID: 89154883
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