We will draft a cohabitation agreement which faithfully reflects the needs of you and your immediate family.
If you live with your partner, but you are not married, you are classified as a cohabiting couple – and you are part of a growing trend that has been happening in the UK for the past last two decades. According to the Office for National Statistics, cohabiting couple families are the fastest growing family type, doubling from 1.5 million families in 1996 to 3.3 million families 20 years later. However, did you know that cohabiting couples have no legal rights to each other’s assets and property in the event of death, or separation? This means that if they separate, one person may take all of the assets and money accumulated throughout the relationship, and the other could be left with nothing.
The reason for this is that English Law does not recognise the concept of a common-law partner. And unfortunately, many cohabiting couples are unaware of their lack of rights following separation, leaving them unwittingly financially vulnerable should separation occur.
With the steadily rising number of cohabiting families, there is an increasing need for cohabitation agreements which protect the interests of both spouses/partners and any children within the family unit.
A cohabitation agreement provides peace of mind for cohabiting couples and their children as it allows decisions regarding how property, assets, and money to be made in the event of separation, in addition to defining how the children will be financially supported.