If you are buying a home with your partner you need to consider how you will own it. One of you may have contributed more to the deposit, or you might pay the mortgage or running costs in different shares. Without a Cohabitation Agreement or Declaration of Trust these contributions might not be reflected in the future.  

If you live in a home owned by your partner, then you are unlikely to have rights in it.  This could mean that if you separate you might not be entitled to stay in the home.

Unmarried partners will not be treated as each other’s next of kin in the event of one person’s death, and will not automatically inherit from their estate. 

It is possible for these issues to be addressed in a number of ways.  Cohabitation Agreements can set out financial arrangements during the relationship and deal with how assets will be split if you separate.  It is important to consider a Declaration of Trust when jointly owning a property. It is also important to make a Will to ensure that you wishes are given effect to on your death. 

Our Family and Matrimonial Team can help you to navigate these issues, contact us to see how we can help.

Article written by Head of Family & Matrimonial, Kate Booth.

The post Rights of Cohabitees appeared first on Brindley Twist Tafft & James.

Cohabitation agreements are becoming increasingly popular now, as less people are willing to take the plunge and marry. These agreements cater for various eventualities and simply means that everyone knows what they are getting themselves into without any surprises later.

I advise clients to be as thorough as possible when entering into these agreements. Include provision about who pays the mortgage and other outgoings each  month, include which items belong to who and what happens to them if the relationship breaks down and definitely state who will have what shares in the property where you live. Where applicable, we can include child arrangements into the agreement, so should the relationship breakdown, each parent knows their continuing responsibility towards that child, financially and in respect of care.

Obviously it is better to be as open and honest when discussing these issues. It means the cohabitation agreement will be worth the paper it is written on and will not result in an early breakdown of the relationship.

I advise clients to exchange documents showing all assets and income, including pensions, property, savings and liabilities.  Each of you should take independent legal advice before completing the agreement. I can assist with every step of the process, from exchange of documents to completion.

Once negotiations have taken place the agreement will be recorded and signed. There is then a legally binding document which you have both entered into.

If you need any advice on cohabitation agreements please call Family law specialist, Samantha Chater on 02476 531532, or email samantha.chater@bttj.com.

The post Do I Need a Cohabitation Agreement? appeared first on Brindley Twist Tafft & James.