Agreement for Living Together: What You Need to Know

More and more people are choosing to live together before getting married, as well as in lieu of getting married altogether. This trend has led to an increased interest in living together agreements, also known as cohabitation agreements.

So, what is a living together agreement and why might you need one? A living together agreement is a legal document that outlines the rights and responsibilities of each person in a domestic partnership. It can cover a variety of topics such as property division, financial obligations, and child custody arrangements.

One of the primary reasons to have a living together agreement is to protect your assets. If you and your partner are not married, you do not have the same legal protections as married couples. This means that if you were to break up, dividing assets and property can become a messy and complicated process. A living together agreement can help you avoid this by clearly outlining who owns what, and how assets will be divided in the event of a separation.

Additionally, a living together agreement can protect you financially. For example, if one person has significant debt, a living together agreement can clarify that the other partner is not responsible for paying it off. It can also outline how joint expenses will be split, such as rent, utilities, and groceries.

Another benefit of a living together agreement is that it can establish expectations for the relationship. This can include everything from how household chores will be divided to how much time will be spent together. Having these expectations in writing can help prevent misunderstandings and conflict down the line.

However, it’s important to note that a living together agreement is a legal document and should be treated as such. It’s recommended that both parties consult with an attorney to ensure that the agreement is fair and legally binding.

In conclusion, a living together agreement can be a useful tool for protecting your assets, clarifying expectations, and establishing financial responsibilities in a domestic partnership. If you’re considering living together, it’s worth having a conversation with your partner about creating a living together agreement to ensure that both of your interests are protected.