Living Together But Not Married? Considerations to Safeguard Your Children and Assets
Living Together But Not Married? Considerations to Safeguard Your Children and Assets
There are more than 3.3 million couples cohabiting in the UK, including those with dependents. If you are living together make sure you are doing everything to protect yourself, your children and safeguard your assets in the event the relationship should end.
- You might hear the term common law marriage but remember if you are cohabiting you do not have the same legal rights as a married couple.
- Being named in your partners’ Will gives you protection should he or she die but does not consider a split if you are both alive.
- Issues can arise when you or your partner is the sole owner of the property, but the other has made regular or adhoc payments towards the mortgage, or perhaps paid out significant sums to the refurbishments to the home. There have been Court Cases where the non-property owner has been involved in large-scale construction which meant the partner who owned the property has saved tens of thousands of pounds. Yet because the partner was not named on the deeds and no agreement has been put in place, they have no rights to a slice of the pot when the property is sold.
- Other commonplace situations can arise when one partner has given up full-time work to become the home-maker – running the household, cleaning and in charge of all child-care. Another challenging area which could arise is when the breadwinner or sole provider shirks financial responsibility for their ex-partner and the children, even refusing to set aside funds for renting or purchasing a property. There have been many cases where one partner (often the mother who has been the main carer for the children) refuses to give the father any access to the children.
- To avoid time and costly disagreements in Court if you split up, make sure you get protected and seek legal advice now. A Declaration of Trust will ensure your assets pre and during the relationship are noted and ensure you are not left high and dry should you split up. There are also legal documents which can be drawn up to specify the arrangements for any children in the event of separation.
- It’s good to talk! Find the right time to have open and honest conversations without being worried whether it will crush your romance. This will lay the foundations of safeguarding for the future, even if you continue to live happily ever after together.
Contact our divorce and family law experts today
If you would like to discuss any aspect of divorce and family law, or want to draw up a pre or post-nuptial agreement or cohabitation agreement, call our mediation, divorce and family dispute resolution solicitors in absolute confidence on 03456 381381. Alternatively, email us at familylaw@ibblaw.co.uk.
