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Living Together Tips
by
Sis Media
More and more people are deciding to live together instead of getting married or at least before marriage. This has become much more common than in the past for what I suppose are a variety of reasons. One of the primary ones is that people seem to think that living together without being married is somehow easier. This, of course isn t the case. People who live together have the same problems as those who are hitched. Whether or not individuals are legally married problems will arise when two people live together. Things often times get even more muddled when just living together because there are no legal boundaries in place. When a couple is married, there are built in protections. Unless two individuals take the extra steps to create boundaries and protections, the law may or may not offer any. A cohabitation agreement is one way to make sure that a person s interests are protected.
When two people are married, there may be an expectation that each person s money goes into one account and that all expenses are paid jointly. That may not necessarily be the case when two people only live together. They may see themselves as separate and not one. As a result, they might want to keep separate bank accounts and handle their own bills. If they decide not to, determining who will be responsible for what and who will get those assets purchased together during the live-in relationship if the couple breaks up can be tough. For instance, in regards to the latter, if furniture is purchased jointly and the couple decides to split, figuring out who would take ownership of it would be darn near impossible because there aren t any laws in place regarding the division of assets between people who aren t married. Thus, that division will be dependent upon the fairness and generosity of the two parties, which might be hard to come by in the midst of a breakup. A cohabitation agreement can help create some boundaries and will provide a roadmap for asset division if the partners split.
Creating a cohabitation agreement is not difficult, neither is it normally contentious. Both parties, along with their representation can meet together in one room and hammer out an agreement. Another option is for each person to meet separately with their counsel and then send the agreement to the other for approval. This process shouldn t take a long time and when done correctly (with proper forethought and fairness), can save a lot of trouble and heartache down the line.
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