Whether you have heard of a cohabitation agreement or not, you might need one if you are living with but not married to your romantic partner. It is becoming increasingly common for couples to live together in long-term, committed relationships without choosing to legally marry. The reasons couples may elect not to marry are numerous and varied. Some simply do not see the need for a “piece of paper” to show commitment. Others prefer to avoid legal entanglement.
However, in the event that such a relationship ends, there is likely to be a legal entanglement of some type anyway, often in the form of joint property or even children in common. A cohabitation agreement can help you address how certain issues would be settled should you split, or should one of you pass away. These agreements may be the best way for unmarried couples to legally protect themselves.
What Are the Benefits of a Cohabitation Agreement?
When a married couple splits, they must go through formal divorce proceedings. During a divorce, a court oversees the equitable distribution of marital property and addresses any child custody concerns. No such process exists when unmarried couples split. A cohabitation agreement can help with: