If you are considering moving in together as an unmarried couple, you may wish to formalise the financial relationship between you; this can be achieved by way of a cohabitation (or living together) agreement.
It can detail how shares in a property are to be distributed if a couple subsequently separates. It provides the couple with a degree of certainty, being particularly useful if one party owns the property and the other moves in or if one party is paying funds towards the purchase from the sale of another property. The agreement can set out who receives what and can also deal with issues such as the payment of outgoings or distribution of household contents.
Cohabitation Agreements can also help to reduce the upset and distress caused when a relationship ends by including provision for contentious points such as who pets will live with in the future, or how to deal with any debts that there may be.
As lawyers we will look at the individual issues that may impact on you if you were to separate in the future and advise on addressing these in the most sensitive and cost-effective way. Please note that you do not have to be at the end of your relationship for advice to be obtained or for a cohabitation agreement to be prepared.
Once you have lived together it may be that your relationship moves towards making plans to marry. To ensure you have maximum protection in the event of a divorce, we can advise on how the terms of your cohabitation agreement can be transferred into a prenuptial agreement.
This is a highly complicated area of the law; our in-house experts specialise in disputes where the parties are un-married, so you are in safe hands.
For further information regarding cohabitation agreements or family law in general, please contact one of our expert lawyers who will be happy to assist.
This blog was prepared by Alexander JLO’s senior partner, Peter Johnson on the 26th February 2020 and is correct at the time of publication. With decades of experience in almost all areas of law, Peter is happy to assist with any legal issue that you have. His profile on the independent Review Solicitor website can be found Here