Cohabitation agreements
Setting out the rights and responsibilities of each partner
Protecting your cohabitation rights
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 agreement. A cohabitation agreement sets out arrangements for finances, property and children while you’re living together and if you split up, become ill or die.
You can make an agreement at any time. It’s good to do it before you move in together. But you may want to consider one if you decide to have children or get a mortgage as without one you do not have many rights.
Reasons for a cohabitation agreement?
Many misconceptions exist surrounding the status and financial implications of cohabiting relationships. You don’t automatically have rights like married couples – even if you’ve lived together for a long time and have children. Having a legal document like a cohabitation agreement can be useful, alongside a Will, if one of you becomes seriously ill, dies or if you split up.
It will protect you both, and any other family members who’ll be affected. An agreement can make sure you have a share of each others’ assets and also help you divide up bills and other responsibilities while you live together.
Are they legally binding?
Yes, provided they are done properly. The agreement will be signed as a deed and be contractually binding. You should therefore take legal advice and think carefully before entering into one.
Whatever your situation, we have the experience and legal expertise to help you choose the right options to protect your interests. We can help you with all aspects of cohabitation, giving you complete peace of mind about living together as an unmarried couple.
How Jones Myers can help
The best time to put a Cohabitation Agreement in place is before moving in together, but if you’re already living with your partner, you can still set one up – maybe you want to formalise things now you’re more settled, or maybe your circumstances have changed and now you want that extra peace of mind.
We regularly draft and advise clients on cohabitation agreements, offering a tailored service and giving you all the information you need in a clear and transparent way.