Should We Have an Agreement?
It is not unusual for couples to consider entering into a written agreement, prior to commencing co-habitation or marriage. This is particularly true where one or both of the parties have been involved in an earlier relationship or where there are significant assets.
There is no question that while negotiating such agreements may not be terribly romantic, they can certainly prevent disputes, if the relationship subsequently breaks down. When considering such agreements what needs to be discussed in particular is what happens should the relationship survive for several years. An agreement that may be fair at the start of a relationship, may become very unfair after a couple has been together for many years.
One way to address such a concern, is to build in a gradual equalization of any asset division, as the years go by. For example, a spouse who enters a relationship with very little might receive an increasing share of the various assets, every few years.
If you and your partner are considering any sort of formal agreement, we can help. Contact us at the office most convenient for you.