A frequent misconception shared by many unmarried couples who are thinking about living together is that they have some protection under “Common Law” marriage.
However, we continue to try to dispel that thought, as common law marriages are in fact a myth.
If you are considering moving in with your partner, or if you are already living together, then we recommend drawing up a cohabitation agreement. This is particularly important when children are involved.
In stark contrast to married couples, cohabiting couples have no legal rights whatsoever because of their relationship, regardless of the number of years they have been together or whether they have children. This can be devastating to discover, particularly if one of you owns property but the other does not.
What is a cohabitation agreement?
A cohabitation agreement is a legal document drafted by a qualified lawyer which sets out what will happen to your assets in the event of the relationship breaking down.
It will show in detail who owns what and how you will split your property, your personal belongings, your savings and any other assets. A cohabitation agreement can also set out how you intend to support your children.
Furthermore, it can be used to agree how you will manage your day to day finances during your relationship, for example how much each of you will contribute to paying the rent or mortgage, and your bills.
It can even stipulate whether you intend to take out life insurance and ensures you have next of kin rights in a medical emergency.
Discussion around entering into a cohabitation agreement isn’t unromantic or pessimistic; it’s actually smart and intelligent planning between two people who love and respect each other.
Having a cohabitation agreement in place can really take the pressure off both of you and provide reassurance in case something does go wrong.
Cohabitation agreements can also be made between people who are not romantically involved but are living together, for example, friends or siblings. If you’re thinking about owning property together, a cohabitation agreement can make things that much easier to deal with.
How we can help
Our lawyers offer a free initial consultation to talk through your needs and provide you with a cost estimate.
The cost of getting a cohabitation agreement drawn up can vary depending on your circumstances. The cost of not obtaining a cohabitation agreement, both financially and emotionally, can be considerably higher.
