What is a cohabitation agreement?
A cohabitation agreement is a form of legal agreement reached
between couples who have chosen to live together.
Getting a cohabitation agreement drawn up is
the last thing you probably want to think about, in place should
you split up.
But with almost half of all marriages ending
in divorce nowadays, we realise we can't always take lifetime
relationships for granted.
The main reason for a cohabitation agreement
is to make sure that your property, interests and other assets are
protected should the worst happen. In the event of a relationship
coming to an end, such preparation helps to make things much
clearer and less painful.
Cohabitation Agreement solicitors
Drawing up a cohabitation agreement between yourself and your
partner can help to set down some sensible guidelines for the
relationship. Some of the content of a cohabitation agreement
includes details of:
- Property - joint property be shared equally or
in proportions
- Finances - household bills, bank accounts,
whether joint, single, or both
- Assets - joint assets be shared equally or in
proportions
- Children - arrangements for maintenance if you
should separate
- Inheritance and wills - what will be left to
who
- Powers of Attorney - someone now (‘your
attorney’) that you trust to make decisions on your behalf should
you not be able to manage your own affairs.
As well as helping to protect you in the event
that your relationship breaks down, the process of writing a
cohabitation agreement with an experienced family solicitor will
ensure that you are entering the new stage of your relationship
with your eyes open.
For more information see our briefing note: Property rights for
cohabitants
Legal implications
It is often sensible to consider the legal implications at the
outset of your relationship. Our specialist cohabitation agreement
solicitors can advise you on protecting your assets on
cohabitation, marriage or civil partnership.