These may sound offensive, but really they protect both parties.  Sometimes one party has acquired an exorbitant amount of assets while the other party has not.  Although, everyone is happy and in love initially, and feel they do not need an agreement, it is wise to have one.

Living together has no protections under the law.  The law regarding property comes from the Matrimonial Property Act of Alberta, which governs how property is divided between "married" couples.  The law regarding child support and custody comes from the Family Law Act of Alberta which deals with children, custody and child support for unmarried couples.  However, there is no specific law regarding how to assist couples with property distribution who just live together without the benefits of being married.  In other words, they have no protection.

In the event, you are in the middle of a common law break up and have been financially drained, the only way you can seek a remedy is to commence litigation through the law of equity (unjust enrichment).  This is where you would have to prove that you have suffered financially, while the other party has gained financially at your expense.  This can be a very costly and lengthy litigation case.  Thus the reason to have a prenup before things go sideways. 

What you need to do is sit down with your significant other and discuss what is important and what you both would agree on.  Obviously, things purchased together from the date you started living together can be classified as "jointly" owned but what about the things owned before or the things that were inherited.  Once you have an idea of your specifics, we can prepare a prenup agreement within a few days and have it ready for both to sign. Obviously, we can only sign with one of you and the other will have to go get independent legal advice from another lawyer.  Then you are both protected and good to go.