What’s At Stake Without A Cohabitation Agreement
When a couple decides to live together, they need to carefully think things through. A decision such as this should not be make lightly or without serious consideration. There is a lot of stake, even if people don’t recognize it. Those who choose to live together and not get married are often times naïve about how things may turn out.
Couples often assume that living together with no strings attached (without a marriage license) is better then getting married because if either decides to up and leave they can. While that is true, it doesn’t mean that they can so without a fight. Fights over shared property, assets, the bills and even children may ensue, preventing a break from being as clean as a person would probably want it to be or assume that it will be. A cohabitation agreement can settle many of the above problems before they even develop which makes life and a break up, a ton easier.
When most couples first get together, they assume that those early feelings of love will always last. Unfortunately, this is rarely ever the case. Those feel good feelings fade and the responsibilities and stressors of real life begin to rear their ugly head. Trying to make important, mutually satisfying decisions can be tough under these circumstances. A pre-determined agreement can make things much easier.
So what exactly does a cohabitation agreement included? Well, basically whatever a person or couple wants. Just about anything can be placed in the contract, which is essentially what it is. Typically, people will include stipulations about how assets and property is controlled and doled out after the break up. Others might ask that rules governing which party will pay what bills and the amount that each will contribute to the household expenses, are included.
Contracts of this time can be drawn up during any time in the relationship, even if the couple is already living together, as long as both agree to it. Having one drawn up before making a large shared purpose or simply because both see the value in it, are both as good reasons as any.
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