If you choose to co-habit rather than marry, you should be aware that the law will treat you very differently to a married couple or to those in civil partnerships.
Whilst we never like to contemplate the breakdown of a relationship, having a legally recognised Living Together Agreement from the outset, can make matters less painful in the event that the relationship comes to an end.
What is a Living Together Agreement?
A Living Together Agreement (or Cohabitation Agreement as it is sometimes called) is simply a record of what you have agreed about how you will own and share things. It encourages you to think about easy and fair ways to organise your day to day finances and ensures that if your relationship ended, neither of you would lose out financially – unless that is what you had agreed. All couples who live together would benefit from having this in place.
Whilst you might believe or expect that, in the event of your relationship breaking down,your partner would behave reasonably, experience has shown us that this is often not the case. Often aggrieved family members will encourage a relative to 'make sure you get your share', and a bitter court dispute can ensue.
What things are covered by a Living Together Agreement?
- A wide variety of topics may be covered by the agreement. The exact content will reflect the particular circumstances of the couple.
- It might typically include the following:
- How housing and property may be owned.
- Who pays the mortgage and household bills.
- Improvements to the property
- Other assets
How can Pickerings help?
1. We can draft a legally binding agreement to cover your circumstances and what you would wish to happen in the event of the relationship breaking down. .
2. The other party will then need to take the agreement to an independent solicitor and seek advice on it. This is an important part of the process to ensure that the document is legally binding and that both parties fully understand the agreement that is being made..
Contact us on 01827 317078 or firstname.lastname@example.org.