Play it safe with a cohabitation agreement
Many couples enjoy living together out of wedlock, but their lack of legal rights to each other's property should the worse happen is often a cause of concern.
Drawing up a cohabitation agreement
is one of the best ways to address these worries, as it lays out what each partner would like to happen if they pass away, especially in relation to property.Cohabitation agreements
are not only useful for couples, but also friends or family who decide to jointly make an investment in real estate.
These documents have legal recognition, which is often what makes them so appealing, although people need to bear in mind that they will need to approach some complicated issues.
Issues of trust can often arise from putting together a cohabitation agreement
, so it is essential for both parties to respect the wishes of the other.
Figures from the Office for National Statistics show that cohabiting couple families in the UK are generally much younger than married couple families.
Published on: July 8, 2011
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