Cohabitation - Things to consider before you begin living with someone
It may sound old fashioned, but the law states that living together guarantees you no rights: deciding to live together with your partner does not have the same legal consequences as getting married or forming a civil partnership.
The situation when cohabiting or living together is far more legally complex and uncertain. It is worth considering your options to safeguard your financial position and speaking to a family solicitor about your living arrangements and family situation.
It can be hard to think about possibilities of relationships ending but planning on what you both would like to happen if things went wrong does not mean you are expecting to split up. It is just a sensible, safe way to respect your commitment, each other and any children. It will allow you to live with the security that should something happen to either of you, or you decide to split up, you are both in agreement on how to sort out your finances and any children you have.
You may have heard of ‘Cohabitation Agreements.’
Cohabitation Agreements can be an used to cover all issues between you, such as who pays which bills, the operation of joint bank accounts, arrangements for support of a partner who gives up work to have children, arrangements for children in the event that the relationship breaks down, life insurance, gifts made to the couple, credit cards, cars, and credit agreements. Anything which affects the financial and other dealings between a couple.
You can even find and download these agreements online in do-it-yourself formats. Do be aware though, that for it to be used in court, the language needs to be legally correct. You must also prove that you both took independent legal advice before signing it. It is worth speaking to a family solicitor first, to check it is legally binding.
For instance, if you live together, your partner is not classed as your next of kin. This means that if anything happens to you, they do not automatically have a right to your share of any property or your possessions. Making Wills which set out clearly what you intend to happen to your interest in your home and your money and personal possessions can be important to safeguard your futures. This can be essential if you have children. You can ensure their needs are considered and that they are properly provided for. You will also want to make sure that your partner does not become homeless when you die.
You can read more about cohabitation and the Law at Resolution’s website, through this link.