Cohabitation Agreement Assets

Many family lawyers still refuse to advise the parties on cohabitations, as there is a risk that an agreement they have developed will not survive a future challenge. Both parties are required to seek independent legal advice prior to the conclusion of this agreement. It is also necessary for both parties to enter into this agreement freely and voluntarily and for you to provide full relevant financial information in order to avoid future allegations of inappropriate influence. More broadly, the development of a formal agreement provides a useful framework for examining all the areas that need to be addressed. To avoid difficult financial tangles in the event of dismantling, it is a good idea to conclude an agreement on cohabitation. This is akin to a marital agreement, but does not require that both parties be legally married. This serves to protect the fortunes of each party and to make it easier to share everything when the relationship ends. A cohabitation contract allows an unmarried couple in an intimate relationship to create emotional and financial security before getting together and pooling their fortunes. If one of the partners contributes to the purchase and maintenance costs of the house in which you live, it will probably be entitled to a share of the house. If you intend that the property is the exclusive property of one of you, the cohabitation agreement must clearly state that any financial contribution from the other partner is a payment on the general cost of living and not for the home.

Guillaumes LLP offers you a personalized service tailored to your specific needs. In other words, if you receive a marriage agreement with Guillaumes LLP, you will receive a fully customized document, entirely made for you. A cohabitation agreement is a legal document explaining how the costs of the relationship, property ownership and what is covered by finances, custody of children and property such as property in the event of a relationship breakdown. You can discuss these issues in the preparation of the cohabitation agreement. If z.B. one partner works and the other takes care of the house, you may want to reflect that in how you deal with financial problems in the event of a relationship breakdown. You may agree that the “domestic partner” would be entitled to a share of assets or support, as is the case in the event of divorce or dissolution of a life partnership.