Why two people who intend to live together should consider a cohabitation agreement
A cohabitation agreement (cohab agreement) is a legal document between unmarried couples who live together. It sets out arrangements for existing assets, finances and children in the event of separation.
Reasons for a cohabitation agreement
Many couples now choose to live together before they get married or enter a civil partnership. However, cohabiting does not offer the same legal protection as marriage or civil partnership.
Therefore having a cohabitation agreement (and a will) helps protect both parties in the event that one of you becomes seriously ill, dies or you separate.
An agreement brings much needed peace of mind and ensures both parties:
- Have an understanding of their financial commitments
- Avoid unpleasant and potentially messy financial disagreements in the event of a separation
- Have clear evidence of their intentions should the matter end up in court
Cohab agreements can also be arranged between people who are not romantically involved, such as siblings or friends.
If you are currently cohabiting with a partner or intend to in the near future, speak to a member of our team about setting up a legally binding agreement. Our wills and estates team would also be happy to discuss this further with you.
