Thursday, 22 March 2012

Cohabitation Agreements: How Romantic!

Recently, we have experienced an influx of enquiries from female clients wanting advice about not only pre-nuptial agreements but also cohabitation agreements.
According to the Daily Mail, there is evidence that more women than ever are becoming independently wealthy. Women aged between 22 and 29 are earning more on average per hour than men of the same age. As a result there is a generation of women who are potentially going to have more to lose financially as a result of a relationship ending. Not surprisingly these women want to know exactly what could happen to their finances if their relationship ends.

There is a common misconception that after a couple have lived together for say 6 months they automatically acquire rights against each other. This is not the case. If you cohabit with someone and the relationship ends  the only legal claims you are able to make currently are against the family home or for child support.
Cohabitation agreements are therefore a way that an couples are able to decide what should happen if their relationship ends. The agreement can incorporate whatever the couple wishes to stipulate from how the equity in the house is to be divided to who gets the pet. We strongly recommend that legal advice is obtained in relation to any agreement to avoid difficulties in future.
For more divorce or separation advice read our family law blog or follow us on Twitter @Divorce_experts

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