Cohabitation and Prenuptial Agreements
No one ever asks their partner to cohabit! In fact, it’s harder to find a less romantic term for moving in together and setting up your home. However, since 2006, cohabitants have been given certain rights by law. So, before you take the plunge, it may be worth considering a cohabitation agreement to protect yours and your partner’s assets just in case things don’t work out as planned. Cohabitation agreements are particularly appropriate if:
- You have assets you wish to protect
- You have children from a former relationship
- You have a business – either of your own or with your partner as business splits at a later date can be costly and complex
- A business includes a farming business or agricultural land or assets
- You are being gifted money
- You already own the property you’re about to share with your partner
- You’re buying a property together and one of you is contributing more than the other towards the deposit
- You have children together
A cohabitation agreement is a formal arrangement which will detail what will happen to your assets should you decide to live apart, or should one of you die.
A prenuptial agreement, like a cohabitation agreement, is a way of protecting your assets should your marriage end in separation or divorce. One example may be looking to protect the family home, property, investments or an inheritance.
Your position can change during the course of your relationship and you may acquire assets that you wish to ring-fence for whatever reason – you need advice on your options and on the Law relating to property acquired during the course of a relationship, and here at Linda George Family Law we can offer advice on both pre and post-nuptial agreements for cohabiting couples as well as married couples.
We can help you with planning and protecting your assets – you can concentrate on the rest … and don’t forget the romance!
Find out more about cohabitation agreements by calling our office on 01698 459200.
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