What is a cohabitation agreement?
A cohabitation agreement serves as a legal document involving unmarried couples who choose to live together. They are regularly utilised as a means to grant those renting or buying property together with the chance to protect their interests in case issues occur down the line.
In many situations, marriage or civil partnership is not on the cards or is irrelevant for friends sharing a home. However, married couples are automatically offered a range of rights that provide legal protection regarding finances, property and children. Our expert solicitors specialising in family law will be able to prepare the cohabitation agreement and ensure its legal merit taking both parties’ interests into consideration. Furthermore, it will ensure next of kin rights should a medical emergency transpire. In daily life, a cohabitation agreement can aid you in dividing bills and other financial obligations.
Cohabitation agreements also help define:
– How mortgage, rent and utility bill payments are shared
– Joint bank accounts and pensions creation and contributions
– Childcare arrangements, including how this is mediated after a split-up
– Possession of assets such as furniture, cars and jewellery
– Pet ownership agreements
What are the benefits of a cohabitation agreement?
Aside from legal and financial peace of mind, cohabitation agreements allow you to ensure a reduced risk of conflict while living together or ending that arrangement. They also help you save money in terms of accruing legal representation should a dispute take place later on. You can also protect your future and the future of your children with such an arrangement.
Let us write your cohabitation agreement together
Beyond Legal are here to help you develop a thorough and cohesive cohabitation agreement, taking into account the assets and intentions of both parties in a respectful and professional manner. With offices in Newton Abbot and Tiverton, our experts are local to Devon and to you.
We offer comprehensive and free consultations to help you decide if such an agreement is right for you. So what are you waiting for? Now could be the best time to plan for your future!