Moving in with your partner and starting a life together can be an exciting experience. However, if you have decided to remain a cohabiting couple for your life, you must start thinking about your future.
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You and your partner do not have the same legal rights as a married couple, and thus, it is important to draw up an agreement covering various aspects of the relationship.
A cohabitation agreement can make sure your property and assets stay safe in case you break up with your partner in the future. If you are involved in common law in ct, consult with a family attorney today.
Things to include in a cohabitation agreement
Property owned before cohabiting.
You and your partner may have acquired some properties before you started living together. It is important to make an agreement whether you want to share your properties and keep them to yourself. For example, you and your partner may refer to your house as “ours” when it is legally titled as yours.
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However, it would not be ideal if they asked for your house after the breakup. Therefore, it is important to put everything in writing.
Properties were bought after moving in together.
If you live together, it is normal that you may buy various things together, such as a refrigerator, vehicle, expensive jewelry, furniture, or other valuable items. You must determine who gets what after the breakup to avoid a stressful situation.
Property inherited or received as a gift during the relationship.
Your family may decide to give you property as an inheritance, or you may receive valuable items as gifts. If you want to protect your family inheritance, you can do so by stating it in the agreement. If someone gifts something to both of you, remember that it is legally owned by both. You will have to specify in the agreement who gets what.
It is important to determine how the household expenses should be handled to avoid disputes later. For example, who pays for groceries, gas, laundry, housing, etc. Some couples prefer the 50-50 method, where they split the bills.
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Couples with large differences in their income can contribute according to their income.
This is particularly important. If you have children together, it is critical to decide where the child will live after separation, who will pay child support, and how much. Your children must have a roof over their heads, so you may want to consider the ownership of your home.
If you are considering living together, you can contact an attorney to look into your situation and draft the perfect document according to your needs.