When you’re in love and moving in together, the last thing you want to think about is what might happen if things don’t go as planned.
It is natural to imagine a bright future, filled with shared moments and a life built together.
But just as you wouldn’t drive a car without insurance, it is wise to protect yourself with a cohabitation agreement.
A cohabitation agreement is about being sensible and making sure both of you are on the same page from the very start.
Such an agreement helps couples outline what will happen if life throws a curveball.
It ensures that both parties are treated fairly, no matter what the future holds.
One of the most important aspects to address is how any property will be owned and what will happen if you decide to go your separate ways.
This includes detailing whether you own the property jointly or if one person owns it entirely.
If the latter, will the other partner contribute to the mortgage or rent?
If so, how will this be recognised?
Outlining these details can prevent future disputes and ensure a fair division of property.
Money can be a tricky subject, but you should always try and discuss how you will manage finances as a couple.
Will you share a joint account or keep your finances separate?
How will you split the household bills and other expenses?
This section of the agreement should clearly outline each partner’s financial responsibilities, ensuring that everything is transparent and agreed upon upfront.
Remaining on the financial theme, it is important to specify who is responsible for any debts or liabilities, such as loans or credit card debts.
If one partner brings significant debt into the relationship, the agreement should clarify whether the other partner is expected to contribute to repayments or if the debt remains the sole responsibility of the person who incurred it.
While it may seem trivial, determining ownership of personal belongings can avoid unnecessary stress in the event of a breakup.
Consider including clauses that specify who owns what, from cars and furniture to pets and sentimental items.
This will help ensure that each person retains their possessions without dispute.
Unlike married couples, cohabiting partners do not automatically inherit each other’s estates.
If you wish to leave assets to your partner, this needs to be clearly stated in your Will.
However, you should also reference these intentions in your cohabitation agreement, particularly if you plan to share large purchases or investments.
While no one wants to think about their relationship ending, the agreement needs to cover this possibility.
It should outline what happens if you break up, including who will remain in the home, how property will be divided, and any financial arrangements that need to be settled.
If you have or plan to have children, your cohabitation agreement should address how you will manage parental responsibilities and financial support in the event of a separation.
This might include arrangements for who a child will live with or how they will spend time with each parent, and child support, ensuring that the children’s best interests are always the priority.
Life changes, and so do relationships.
Regularly revisit your cohabitation agreement, especially if your circumstances change.
Updating the agreement ensures that it remains relevant and continues to protect both partners.
By discussing these matters openly and honestly, you are not only protecting yourselves but also building a foundation of trust and understanding that can strengthen your relationship.
If you’re considering drafting a cohabitation agreement, our team of experienced solicitors is here to help. Contact us today to discuss how we can assist you in safeguarding your future together.
Associate Solicitor
