Cohabitation Agreements
Marriage rates, despite recovering somewhat after the pandemic, have shown a steady and consistent decline. The ONS statistics reveal that from 1992 to 2022 marriage rates decreased by 20.8% suggesting that alternative forms of relationships are increasing.
Even when a couple decide that they will marry some will decide that a period ‘living together’ would be wise, whilst others may decide that simply cohabitating will be all they want to do.
Unfortunately, individuals do not have automatic rights when they move in together. This is the case even if they have children together or have lived together for a long period of time.
For most people looking to cohabit it is advisable to have a cohabitation agreement drafted by an experienced family lawyer.
This agreement sets out arrangements for finances, property and belongings should you decide to break up or you become ill or die. It also makes specific provisions for any children.
An agreement can be drafted at anytime but it is preferable to do it before you actually move in together.
Another stage when people look at having an agreement drafted is when they make a decision to have children or perhaps decide to buy a property.
It is worth noting that cohabitation agreements need not be between people who are in a romantic relationship. They can be useful between friends or siblings who decide to cohabit.
Drafting a Cohabitation Agreement
Prior to appointing a specialist family lawyer it is worth taking the time to discuss your wishes around:
- Property
- Children
- Pensions
- Savings
- Items of value
Thinking about what would happen should you separate, will be a great help when coming to draft the agreement.
Once you have a basic outline of an agreement, as well as any supporting documentation, it is then advisable that you discuss your plans with a specialist family solicitor. Both individuals should receive their own independent legal advice.
Having drafted an agreement it is worth noting that, much like wills, should circumstances change the contents may require some updating.
Why Draft a Cohabitation Agreement?
Drafting a cohabitation agreement can be extremely useful in that they;
- provide a legal basis for your expressed wishes
- the content is not open to interpretation
- they are great for avoiding conflict or confusion over time
- they can provide a solid basis for childcare
- they can represent a good investment compared to a protracted dispute down the line
- they provide a degree of emotional and financial security.