For couples living together who are not married or in a civil partnership, there are no specific laws in place to determine how financial assets should be divided if the couple separates.
There is a myth often referred to as “Common Law Marriage” but this is only a myth and does not exist in England. This means with no laws to protect you, you could be left in a distressing position following the breakdown of a relationship.
Our expert team can offer you and your partner help and advice on designing a legally binding Cohabitation Agreement which will bring you both reassurance and peace of mind for the future.
An example of where a Cohabitation Agreement is highly recommended, is where one of the couple has made a large sum deposit in relation to a property. The Cohabitation Agreement will specify what should happen to this money should the relationship break down.
Should a dispute arise and there is no Cohabitation Agreement in place it may result in Court proceedings which could be lengthy and costly to both parties.
If you think a Cohabitation Agreement would provide peace of mind in your relationship, please contact us to arrange a free 30 minute initial meeting at any of our three offices across East Suffolk.