When love is in the air and your thoughts turn to moving in together, the colour of your décor may be more on your mind than the practicalities of splitting up. However, unmarried couples need to consider more than the choice of furniture when deciding to move in together.
When a married couple divorces, there are specific laws that give rights and obligations, determining how property and finances are to be shared. However, when couples who live together decide to break up, there is no automatic legal process to oversee the terms of your separation – there is no such thing as a ‘common law marriage’.
Drawing up a cohabitation agreement could save you both from unnecessary heartache and financial turmoil in the long run, if your relationship does not work out.
We can advise you
If you live together, how you hold your property and your contribution to its purchase are very important. A cohabitation agreement can formalise these important arrangements to ensure long term security for each partner.
In addition, it can provide useful guidance for arrangements regarding personal property, gifts, credit agreements, ownership or provision of cars, liability for debts, living expenses, provision of life insurance for each other, pensions, intentions in the event of death, serious illness or incapacity.
The agreement will also set out how to proceed if the relationship ends either by death or separation, or if you decide to get married.
A cohabitation agreement is the best way of trying to ensure a secure future if you go your separate ways.
Funding for legal advice or representation
Once we understand your circumstances, we will advise you on the options that may be available to you.
Contact our matrimonial team
If you are interested in drawing up a cohabitation agreement or need further information tailored to your specific needs, please contact a member of our specialist family team who will be able to help.