Cohabitation Agreements  

Cohabitation agreements

Before moving in together, it is important for couples to decide in advance how their living arrangements will work from a financial point of view, and what will happen to any individually or jointly-owned assets, either on separation or if one of them passes away leaving a surviving partner behind. This can be achieved using a cohabitation agreement, a trust agreement or both.

A cohabitation agreement can be the key to a successful partnership, financially speaking, documenting in writing any agreement reached between a cohabitating couple. This can range from any rights and responsibilities in relation to the couple’s residence, to their respective interests in any real or personal property in the event of a break-up or death. In this way, the cohabitation agreement can provide clarity as to how responsibility for the household finances will be split between the couple, and greater certainty over the division of their assets should the relationship fail or if something happens to either one of them.

When recording the financial arrangements between a cohabiting couple, careful consideration will need to be given to the property in which they will be residing as their joint home, whether this be owned outright, mortgaged or rented. Equally, consideration must be given to any other assets, such as furniture or vehicles, which may be used by both parties during their period of cohabitation, but to be retained by just one partner if the couple separate or, if one of them dies, to form part of that deceased’s estate.

When seeking to draw up a cohabitation agreement and make decisions as to what that agreement should contain, it is best to have an experienced family solicitor to advise on the legal implications for both parties, although a couple may want to secure legal advice independently of each other to help safeguard their respective rights and interests. An experienced solicitor can draft the provisions of the agreement to reflect the parties’ intentions, while also ensuring that this is properly witnessed and signed.

What we do for our clients

At Farnworth Rose Solicitors we have extensive experience in helping cohabiting couples document in writing an agreement reached around their respective finances. We provide advice as to the legal implications of any agreement and help couples to navigate the key provisions that will need to be covered, ensuring that they include all relevant aspects of their finances and financial future. We will then draft detailed and carefully worded provisions to reflect a couple’s agreement, tailored to their unique set of circumstances.

Our expert solicitors have helped hundreds of clients document their rights and responsibilities around joint living arrangements, as well as determining their legal and beneficial interests in any individually or jointly-owned assets, in this way helping to avoid any disputes if they ultimately go their separate ways or one person passes away.

How we can help you

If you are planning to move in with someone or you are already living together as a couple, we can help you to regularise your financial arrangements by recording in writing your intentions as a couple about ownership and division of any property and assets. This can provide you and your partner with the flexibility and freedom to organise your financial affairs as you see fit, both during and after any period of cohabitation, providing each other with the peace of mind that suitable provision has been made for every eventuality.

To find out how we could help you in creating and documenting a cohabitation agreement, please get in touch with our expert team. We will be happy to provide you with a tailored quote based on the complexity of your living arrangements and financial circumstances.

How you can contact us

For expert advice and assistance from our cohabitation agreement Solicitors, call Farnworth Rose today on 01282 695400 or complete the form below.