Cohabitation Agreement Cost BC: What to Expect

Living with your partner is a beautiful thing, but it comes with its own set of challenges. One challenge is figuring out what happens if things don`t work out. A cohabitation agreement is a legal document that outlines how assets will be divided if a couple separates. In British Columbia, Canada, there are certain costs associated with creating a cohabitation agreement.

The cost of a cohabitation agreement in BC can vary depending on several factors, including the complexity of the agreement, the lawyer`s hourly rate, and the time it takes to negotiate and draft the agreement. As such, it is difficult to give a precise number, but we can provide an estimate.

On average, the cost of a cohabitation agreement in BC can range anywhere from $1,000 to $5,000. However, keep in mind that this is only an estimate, and the cost can be higher or lower, depending on the previously mentioned factors.

One factor that determines the cost of a cohabitation agreement is the complexity of the agreement. If the agreement only covers basic issues, such as property division and spousal support, the cost will be relatively low. However, if the agreement includes more complicated issues, such as child custody and child support, the cost will likely be higher.

The hourly rate of the lawyer drafting the agreement also plays a role in determining the cost. Most lawyers charge between $200 and $500 per hour for their services. Therefore, the more time the lawyer spends drafting the agreement, the higher the cost will be.

Negotiation and drafting time are also factors that influence the cost of a cohabitation agreement. If both parties agree to the terms of the agreement quickly, the agreement will be drafted faster, and the cost will be lower. However, if negotiations take longer or are more complex, the cost will be higher.

In conclusion, a cohabitation agreement is an essential document for couples living together in BC. While the cost can vary, it is essential to have one in place to ensure that your assets are protected in the event of a separation. The best way to estimate the cost is to speak with a family law lawyer who has experience drafting cohabitation agreements.