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Cohabitation Agreements - protecting yourself for the future
Unmarried Couples and Families
Statistics show that over six million people now live together as a couple in the UK without being married.
People often think that couples who have been living together for a long period of time are ‘common law’ husbands and wives; but there is no such legal status in the UK. The Law refers to 'living together' relationships as Cohabitation; people living together are called 'Cohabitees'.
Inevitably some of those relationships break down.
When these relationships end, many unmarried couples are surprised to find that they don’t automatically have the right to share in each other’s finances and property on separation.
It may seem unromantic to consider at the outset of any relationship what will happen if you separate, but planning could protect your position should the worst happen.
There are steps you can take to give yourself certainty and avoid potential unfairness.
Cohabitation Agreements are increasingly popular as more and more couples are living together, and want to protect their individual assets and income in case of separation.
A Cohabitation Agreement can record details such as:
- Who owns what at the start of a relationship
- How any property acquired during the relationship will be owned
- Who will be responsible for mortgage and other property costs etc.
A Cohabitation Agreement can also provide a framework for what will happen if the relationship breaks up.
It can deal with how equity in the property will be divided, who will be responsible for debts and so on. The Agreement can also set out what will happen if one person dies.
So don’t delay come and see one of our expert lawyers who will help and guide you to ensure you future is secured.
At Devonalds we offer affordable expert legal advice so if you are experiencing legal issues regarding your children or are about to embark upon the divorce process and need advice, contact one of our family lawyers today on 01656 665022 (Bridgend) or 01443 404700 (Pontypridd).