Security provided by a legally binding Cohabitation Agreement

It is a common belief that cohabitating couples face all the stress and strain of marital life devoid of its benefits. This situation can be changed. Such cohabitating couples can validate their relationships by entering into an agreement called as ‘Cohabitating Agreements.’

Cohabitating Agreement

Staying together gives rise to many financial issues. The cohabitating partners regulate the financial implications of their stay together. They work out arrangements for payment of maintenance and child support. Further they also decide the distribution of assets in the event of separation. The written format of the understanding reached by the couple is called as a cohabitation agreement. This agreement is binding to both the signatories and is considered at the time of separation. But how legally enforceable it is yet to be fully ascertained.

Need of a Cohabitation Agreement

• Cohabitation agreement gives a basis for couples to build their relationship.
• Couples planning to test their compatibility prior to marriage should opt to stay together only in the protective grab of an agreement. The agreement effectively protects the property of either partner in case a split occurs.
• More than a fourth of the children born in the United Kingdom are to cohabitating couples. If children are a part of the relationship their interests need utmost protection that only a cohabitation agreement can offer.

• Living together without a marital bonding makes a relationship uncertain. Cohabitation agreement lends a degree of recognition to the relationship.
• A couple staying together purchases different assets for their combined use. Cohabitation agreement decides the sharing of assets should the couple decide to terminate their relationship. This agreement gives clarity to the situation. If either of the partners decides to withdraw from the relationship they know what to expect.
• Laws of UK refuse to recognise relationship outside the realm of marital bond. In the event of an untimely death of either partner, the cohabitation agreement allows a partner to receive their due share of the property. Though these agreements are not legally binding the court considers them.

Cohabitation Agreements are Common

Majority of the cohabitating couples fall in the age group of 24 to 35. And normally they stay together for an averaged out period of two years. The relationship ends with the tying of the marital knot or in a split up. Cohabitation has been a practice since the past 240 years. But the modern day couples prefer to safeguard their relationship by entering into cohabitation agreements. Easy accessibility of online agreements ensures protection against the dangers that fraught this fragile relationship.

Online Cohabitating Agreements

Online cohabitation agreements though solicitor formatted are extremely economical. The couple fills a few importantly required details in the online form. The online companies convert this information to a cohabitation agreement and mail it back to the couple. The whole procedure takes a short time. The economic nature of this simple procedure has made many cohabitating couples sign an agreement. They like this for it allows them to concentrate on developing their relationship with peace of mind.

Insecurity Caused by Not Entering into an Agreement

Some couples do not wish to enter into such agreements. They do not like to discuss issues of separation. Believing in the strength of their relationship they lead a happy life. They collect all the assets and furniture required for a comfortable existence. But unforeseen circumstances might cause the untimely demise of a person. When the unexpected occurs the grieving partner and children are left with no share in the property. Though they face extreme financial difficulty the assets belongs to the blood relations of the partner. UK law is imbalanced in this particular respect. Such a situation can be redressed to an extent, by entering into a cohabitation agreement.Cohabitating couples are governed by the property law and not the family law. Right now the law of UK fails to protect them. They have to protect themselves by entering into cohabitating agreements.