Many couples despite living together never seek to legally formalise their living and financial arrangements. They mistakenly believe that the concept of a ‘common law’ husband and wife applies to them namely that they will automatically have financial claims against each other simply because they live together. The reality is far from this. Cohabitants do not have the same financial protection and security on the breakdown of their relationship as is afforded to married couples/those in civil partnerships. The law in England and Wales is far from satisfactory in this area. It is archaic confusing and outdated. Complex legal principles are often applied particularly in relation to the division of property. Such principles are not easy to understand and can lead to expensive legal proceedings and delay.
This short article considers and explains how entering into cohabitation agreements can alleviate some of the problems described above and the circumstances that a person might consider entering into one.
If you live with your partner or are about to start living with him/her then you may wish...
Read the full article here.