Anoka County Divorce Lawyer
If a couple has no intention of getting married, but they wish to live together as if they are and share property and money, a cohabitation agreement can be very useful. This is an agreement that protects specific interests and assets throughout the relationship. Over time, many couples find themselves sharing automobiles, homes, and other property. The cohabitation agreement specifies which pieces of property belong to who and what should happen to specific assets if the relationship would end.
If you need a cohabitation agreement drawn up, an experienced Anoka family law lawyer can do that for you. What your attorney will do is draft a cohabitation agreement based on your unique circumstances so that the two of you have a legal document in place that protects both of you in the event that the relationship would fail.
Protecting What Is Yours
Cohabitation agreements can work for anyone with assets or any money in the bank. Individuals can benefit regardless of their income level. Here are some cases when a cohabitation agreement may be necessary:
- You and your partner already live together and you have plans to continue doing so
- You will be making a property purchase together
- You have plans to have children
- You already have children and you want to protect their financial futures
- You have assets that you want to protect
Even if there are plans to get married in the future, a cohabitation agreement will still be beneficial. On the other hand, some prefer not to get married so they can avoid the divorce process if the relationship would fail. This is where the cohabitation agreement comes in very useful.
Helping You Plan For The Future
While the intention is for the relationship to never break down, the cohabitation agreement is a safeguard. Your Anoka family law lawyer will work with you to create a solid agreement so that you can enforce the agreement if the need comes about. There are times when the need never comes about, but the agreement is there just in case and it makes matters easier for both of you.
All in all, a cohabitation agreement is a way to stop issues before they become issues. Nonetheless, where cohabitation agreements were popular among same-sex couples, the new marriage law has them now turning to prenuptial and post-nuptial agreements to protect assets and their interests. The exact document used will depend on the specifics of the individual situation.