![]() ![]() The alternative of preparing a cohabitation agreement, such as a prenuptial agreement, is theoretically available to couples, but, practically speaking, it can be a difficult process to pursue. As a result, it may be financially safer to maintain somewhat separate finances. In some provinces, common-law couples have different property rights when they split up. The 22.7 per cent of couples who were common law is nearly quadruple the number in 1981, when only 6.3 per cent of couples were unmarried. Nearly one-quarter of couples were living common law in Canada as of 2021, according to Statistics Canada, the highest in the G7. Although there are disagreement risks, it may be better for a couple to find out earlier in their relationship that they are not compatible about money, or generally, as opposed to coming to this conclusion many years later.Ĭommon-law couples have more risk when combining their finances. This suggests that a couple should consider combining their finances. It also echoes previous research demonstrating a correlation between combining finances and relationship quality. ![]() ![]() To an extent, this was expected, because it helps to align a couple’s goals financially and otherwise. The non-merging couples had a normative or expected decline in the quality of their relationships during the subsequent two years, whereas the common-cents’ couples maintained strong - and, therefore, stronger - relationship quality. ![]()
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