Cohabiting couples are the fastest growing type of family in UK. In last decade figures increased from 2.2 million to 2.9 million. The law in relation to cohabitees can be very uncertain. Few couples have a clear idea of what would happen if the relationship ended.
A Cohabitation agreement can offer you security and protection. They can bring clarity and support to your relationship and can provide the added benefit of peace of mind should either of you, at a later date, need legal protection in the event of separation.
Many people wrongly believe that after a few years together, unmarried couples gain the same rights as married couples and that there is a “Common Law Marriage”. In reality no such thing exists. The current cohabitation law in England and Wales is very inflexible and often leads to outcomes that can seem very unfair and may not be what one or even both of you intended at the start of your relationship.
Some people find that they have very few rights in relation to property or assets when they end a relationship with a cohabitee. Others might discover that they have to unexpectedly compensate a former partner who has managed to gain an interest in the property.
We, therefore, recommend that cohabiting couples, whether you and your partner have children or not, make a cohabitation agreement. This will clearly set out ownership of, and interest in, those assets and finances that you both share, as well as those that are the property and responsibility of each of you individually. This protects both of you in relation to your individual financial interests, as well as those that you share together.
Your specialist Family Law solicitor at Holmes & Hills will give you expert advice and guidance on what you can and may wish to include in your cohabitation agreement. They will draft your cohabitation agreement so as to clearly set out the intentions of you and your partner in the event of separation, as well as how assets and liabilities (expenses) are to be separated.
Holmes & Hills is a large firm of solicitors with seven local offices across Essex and Suffolk. You can meet your Family Law solicitor at whichever office is most convenient for you. Early, late and telephone appointments are available.
Call us today and protect your interests for tomorrow.