cohabitation
Cohabitation agreement helps a couple get treated like a married couple, such as when applying for a mortgage or working out child support. However, in some other areas, such as property rights, pensions and inheritance, they are treated differently. Save from unnecessary cost and litigation should their cohabitation break down.Regulate their property rights and what arrangements might be made for mutual financial support, dealing with debt, caring for children, etc.
A cohabitation agreement will usually not be adequate to settle all legal issues that might arise, so a trust deed setting out property rights and a will are also recommended.
For example, if you are much wealthier than your partner, and the relationship breaks up, you are a target for a lawsuit. Your partner may sue you for "palimony," claiming that you promised that you would support him or her for life, and/or that all property you acquired during the relationship would belong to both of you. If you have no written agreement to the contrary, and your partner's claims are believed, you could be obligated to divide your property with and/or pay support to your partner--even if a desire to avoid these obligations was the very reason you didn't marry your partner in the first place.
..........Conversely, you may have quit your job to make a home for your partner, who in return promised that you would always be "taken care of," only to find when you break up that all of the assets you acquired "together" are in your partner's name, and your partner is denying that he or she ever made any promises to you.
..........Implied Agreements: Implied agreements are unspoken "understandings" between two people which can be implied from their conduct. For example, if a man provides financial support for his live-in companion, a jury may someday find that the two had an "understanding" that he would always support her -- even if the relationship broke up. You may be surprised to learn that a court can force
A cohabitation agreement will usually not be adequate to settle all legal issues that might arise, so a trust deed setting out property rights and a will are also recommended.
For example, if you are much wealthier than your partner, and the relationship breaks up, you are a target for a lawsuit. Your partner may sue you for "palimony," claiming that you promised that you would support him or her for life, and/or that all property you acquired during the relationship would belong to both of you. If you have no written agreement to the contrary, and your partner's claims are believed, you could be obligated to divide your property with and/or pay support to your partner--even if a desire to avoid these obligations was the very reason you didn't marry your partner in the first place.
..........Conversely, you may have quit your job to make a home for your partner, who in return promised that you would always be "taken care of," only to find when you break up that all of the assets you acquired "together" are in your partner's name, and your partner is denying that he or she ever made any promises to you.
..........Implied Agreements: Implied agreements are unspoken "understandings" between two people which can be implied from their conduct. For example, if a man provides financial support for his live-in companion, a jury may someday find that the two had an "understanding" that he would always support her -- even if the relationship broke up. You may be surprised to learn that a court can force