Have you and your loved one thought about what happens if things don’t go as planned? We know it isn’t the most romantic topic to discuss but if you’re living together and not married, or don’t plan to get married, you might want to think about writing up a cohabitation agreement.

At the last count, 24.3% of couples who aren’t in a marriage or civil partnership currently live together. Unfortunately, unmarried couples don’t have the same legal rights as married couples – this is why we believe it’s vital to draw up a cohabitation agreement.

To put it plainly, a cohabitation agreement is a legal document that details how you and your partner wish to handle your finances and assets while you live together. A cohabitation agreement can also record what happens if you and your partner should part ways.

You may have heard of “common law spouses” suggesting you get more or less the same rights as a married couple if you’ve lived together for a certain amount of time. Truthfully, there is no such thing as a common law partner – living together doesn’t automatically give you a share in each other’s finances or assets. Whoever’s name is on the mortgage or the lease is whoever owns or is responsible for it unless there is evidence to the contrary which is something the deed can record.

A cohabitation agreement isn’t just for people who own a property together – it can be a great idea to have a cohabitation agreement if you’re renting together. The agreement can also cover childcare in the event of a breakup and what you both want if one of you falls ill or passes away.

If you and your partner believe you would benefit from a cohabitation agreement then it’s worth discussing your options with a family lawyer. This way, you can figure out what should and shouldn’t be included in the cohabitation agreement. We can help you create a cohabitation agreement that suits your situation and meets your personal needs.

There are so many advantages to having a cohabitation agreement, including but not limited to:

• Protecting your assets
• Detailing your financial responsibilities
• Avoiding disputes

We can help with all facets of a cohabitation agreement such as negotiating the terms, drafting up the documents and enforcing a cohabitation agreement if you and your partner separate.

Do you have more questions about cohabitation agreements? Speak to our team today – we’re always happy to help: