September 02, 2015 | Posted by : J Morris
Contrary to popular belief, living together as a ‘common-law’ couple does not automatically provide you with the same legal rights as married couples, or those in a civil partnership. It’s important, therefore, for cohabitees to make arrangements to protect their financial rights. The best way to do this is to draw up a cohabitation agreement (sometimes called a ‘living together agreement’) – a legal document much like a prenuptial agreement – which sets out fair provision for finances, property and children in the event of separation. If you own property, you should at the very least have a Declaration of Trust setting ...
May 28, 2014 | Posted by : J Morris
From a legal point of view, separating as a cohabiting couple is both easier and more difficult than divorcing as a married couple. On the upside, you do not need to change your legal status from married to unmarried by going through the process of divorce, but it’s still important to be aware that cohabiting couples have very few rights in terms of claiming the fair division of partner’s assets.
Unless a co-habitation or living together agreement is drawn up with the intention of making it legally binding, cohabitating couples do not enter into any form of contractual arrangement in relation to their financial affairs in the ...