It is becoming increasingly common for people to enter into long-term and committed relationships without choosing to marry or enter into a civil partnership. However, these couples are not given the same rights upon the breakdown of a relationship as married couples, and the Court does not have the same powers to make financial orders.
Therefore, you and you spouse may consider entering into an agreement called a “cohabitation agreement.” This is a living together agreement which outlines both your views as to how financial matters would be dealt in the event that your relationship breaks down.
Cohabitation agreements can help in the following ways:
- Properly compensate a party for his or her role as a carer for children
- Allow the financially more secure party to limit exposure in the event of a breakup
- Guarantee the financially less secure partner an reasonable settlement
Our team are experienced in drafting these agreements and can act for you in negotiating the terms and drafting the document. You should also review or make a Will to ensure that your wishes are followed on your death.
To find out more, please get in touch with us.