When it comes to relationships, the legal implications of living together can be just as significant as those of marriage. In British Columbia, unmarried spouses—sometimes referred to as “common-law partners”—have specific rights and responsibilities when it comes to property division. If you’re in a marriage-like relationship, you might be wondering: Can my spouse take half of my assets if we separate? The answer depends on several factors, including the length of your relationship and whether you have a BC cohabitation agreement in place. At bcfamilyagreements.ca, we help couples understand their rights and protect their assets through clear, legally sound agreements.
1. Understanding Property Division in BC
Under BC’s Family Law Act, property division applies to both married couples and spouses who meet the legal definition of a marriage-like relationship. The law distinguishes between family property and excluded property.
- Excluded Property: This refers to assets owned before the relationship, inheritances, gifts, and certain types of settlements or court awards. Excluded property is not typically divided, but any increase in its value during the relationship may be considered family property.
- Family Property: This includes most assets acquired during the relationship, such as the family home, vehicles, bank accounts, and investments. Family property may also include any appreciation on Excluded Property. Family property is generally divided equally upon separation.
It’s important to note that this is a high-level summary, and the specifics can vary depending on your circumstances.
2. Who Qualifies as a “Spouse” in BC?
In BC, the term “spouse” applies not only to married couples but also to couples in marriage-like relationships, commonly referred to as “common-law partners.” You are considered a spouse under the law if:
- You have lived together in a marriage-like relationship for at least two years, or
- You have a child together and are living together in a marriage-like relationship.
Once you meet this definition, the Family Law Act grants you the same rights and obligations as married couples when it comes to property division, spousal support, and other family law matters.
3. How a Cohabitation Agreement Can Protect Your Assets
A BC cohabitation agreement—sometimes called a common law agreement—is a legal contract that outlines how property, debts, and other matters will be handled during the relationship and in the event of a separation. This agreement can be a powerful tool for protecting your assets and ensuring clarity between partners.
For example, a cohabitation agreement can:
- Specify which assets are excluded property and how they will be treated.
- Outline how family property will be divided, which may differ from the equal division prescribed by law.
- Address financial responsibilities during the relationship, such as who pays for household expenses or debts.
- Include provisions for spousal support, if applicable.
By creating a cohabitation agreement, you and your spouse can avoid uncertainty and potential disputes if the relationship ends.
4. Why Legal Guidance Matters
While it’s possible to draft a cohabitation agreement without a lawyer, doing so can lead to unintended consequences. For an agreement to be enforceable, it must meet specific legal requirements. An experienced lawyer can ensure your agreement complies with these standards and reflects your intentions.
At bcfamilyagreements.ca, we work with our clients to create cohabitation agreements that are fair, comprehensive, and tailored to their unique circumstances. Whether you’re entering a new relationship or have been living together for years, a well-drafted agreement can provide peace of mind and protect your interests.
Final Thoughts
The question of whether a partner can take half your stuff depends on the specifics of your relationship and whether you have a cohabitation agreement in place. While BC law provides a framework for property division, a cohabitation agreement allows you to customize how assets and responsibilities are handled.
If you’re in a marriage-like relationship, don’t leave your financial future to chance. A cohabitation agreement can provide clarity, prevent disputes, and ensure your assets are protected. At bcfamilyagreements.ca, we’re here to help you navigate this process with confidence. After all, planning ahead is one of the best ways to safeguard your future—and your peace of mind.