Plc Cohabitation Agreement
In a previous article, we found that the number of couples who choose to live together before or instead of marriage is increasing rapidly. In fact, a 2013 U.S. Department of Health and Human Services report found that 74 percent of women under the age of 30 were living with a partner at some point in their lives. It is clear that for many Americans, cohabitation is becoming a new normal. One of the problems with this increase in cohabitation is that there are no rules if these couples disintegrate. When a couple is divorced, there are laws in Virginia and countless court proceedings that dictate issues such as the division of property and debts, custody of children and whether one spouse owes monetary support to the other. On the other hand, when some inhuman couples have ended their relationship, there is no place to look for instructions on these subjects. Despite all the stubborn logic of entering into force an agreement on cohabitation, the announcement can be an extremely difficult and moving task for many people. It`s certainly not very romantic.
Fortunately, all these problems can be easily answered by a well thought-out agreement on cohabitation. A cohabitation agreement gives both parties the certainty that they will be protected in the event of disintegration. It is also an opportunity to think rationally about possible topics during the good times. In addition, it can save couples tens of thousands of dollars by settling problems in advance instead of arguing them in court. If you are in a cohabiting relationship or are thinking of taking the next step, take a moment to think honestly about the effects of this relationship breakdown. They probably had to make some common purchases for the house, or maybe one partner had to lend money to the other. There are probably more potential problems than you would initially suspect. Lawyers for Smith Strong, PLC, have experience in producing cohabitation agreements for each situation. They can plan you for any problems you`ve identified, and point to some that you may have missed. Please call one of our offices at 804-325-1245 (Richmond) or 757-941-4298 (Williamsburg). This kind of conversation is almost inevitable — you need to know where the money comes from to pay for your home and pay your bills.
You also need to know what you are getting in exchange for your money. This is the perfect time to discuss the possibility of a cohabitation agreement. In the absence of a clear document indicating the agreement between roommates, the Court may be asked to decide how to distribute a property between them that they will share. This is an increasingly complex legal area, but the most important points that the court will consider are:- The wisdom of couples who make life arrangements before moving in together is obvious. It is possible to protect yourself, your children and your property by entering into a written agreement with your partner in particular, and even if you have already broken up. The sooner you act, the better and a short call to one of our teams will get you started. So how would you start an interview with your partner about developing a life partnership agreement? Remember that it is perfectly reasonable to seek agreement on cohabitation, and that does not call into question the strength of the relationship. In fact, it`s more of an indication of the strength of a relationship, showing that you`re able to have a mature discussion about what might happen in the future and how you would treat it if that`s the case.