Living together agreements, or cohabitation agreements, are an excellent way to protect your financial interests in property and other assets when you set up home with someone.
The law is very different for couples who separate after living together if they were not married. As far as finances are concerned, you are not protected by the same legislation as married couples, but instead any disputes are decided according to the inflexible principles of property and trust law. This can result in seemingly unfair outcomes and a lot of expense. Drawing up a living together agreement when you move in together removes the financial uncertainties if you separate later on. It can also set out rules for how you both manage your finances whilst you are living together.
You can draw up a cohabitation, or living together, agreement either before you move in together or at any time afterwards. This can record who owns what assets when you move in, or if one of you owns the property in which you both live, how outgoings are to be met, or what happens when children are born. Although these agreements are not legally binding in the strictest contractual sense, the existence of an agreement will be highly persuasive in how a court considers any later dispute and is likely to be given significant weight as evidence of your joint intentions.
The collaborative law setting is the ideal forum for negotiating and drafting a living together agreement. Your Creative Divorce lawyer will take a non-confrontational approach, and focus on openness and communication. Complex financial situations and sensitive topics can be dealt with calmly and appropriately, and your interests can be protected throughout the process.