When you live with a partner, some of your assets and liabilities may start to intermingle over time, even if you try to keep things separate. For instance, you might decide to purchase a house together, or one of you might take time away from work to return to school or raise your children.
If you break up or one of you becomes incapacitated, separating your legal and financial lives may be challenging. However, a written cohabitation agreement could help the court better respect your wishes. Fortunately, a skilled Frisco cohabitation agreements lawyer could help you prepare a document that protects your rights and interests. Contact Towson Law Firm, PLLC today to consult with a dedicated marital agreements attorney.
Couples who elect to live together instead of getting legally married do not have the same built-in legal protections that a marriage certificate can provide. However, you can still protect your interests by entering into a legal cohabitation agreement.
When drafting an agreement, it is important to consider the legal and financial ramifications that could occur if your relationship ends. To do so, you and your partner must accurately and honestly assess your assets and liabilities, just as if you were entering into a prenuptial or postnuptial agreement.
If you are considering entering into a cohabitation agreement before moving in with your partner, some of the issues that you should discuss with your Frisco attorney include:
Some couples elect to enter into a legal agreement after living together for a period of time. They have many of the same considerations listed above, but must also consider additional matters, such as whether a partner has a claim to the other’s retirement savings. After living together, both parties should be more aware of which assets or debts they have accumulated together. Our lawyers know the benefits of drafting a cohabitation document and could help you understand the important factors involved in fully protecting your interests.
Entering into a cohabitation agreement could prevent your arrangement from being considered a common law marriage. The state’s courts recognize a relationship as common law or an informal marriage when the couple has lived together and represent themselves to other people as husband and wife. When a common law marriage dissolves, both parties can obtain the same rights as married partners with respect to property and liability division.
However, a cohabitation agreement allows you to establish more control over the situation. If you enter into your own agreement, you could decide what to include and what will happen if you and your partner break up. Our knowledgeable Frisco attorney could fully explain the benefits of a cohabitation agreement and clarify your specific arrangement so that you can avoid the implications of a common law marriage.
Cohabitation agreements often give domestic partners clarity in knowing what will happen if their relationship dissolves. A Frisco cohabitation agreements lawyer could help you protect your rights and define your legal obligations within your relationship. Contact our team at Towson Law Firm, PLLC today to schedule a consultation and learn more.
Our Law Firm’s approach to your case is based on individual circumstances. Whether it is a simple negotiated settlement, or it requires an aggressive approach, we will protect and defend your best interests.
