Moving in together is a big step for every couple, whether married or not. However, for couples who aren’t married, living together can present a number of challenges if the relationship doesn’t work out. No one wants to plan for the end of a relationship especially when things are going well, but as your lives become intertwined, you face both financial and legal risks. A cohabitation agreement can provide clarity and protection for those who are unmarried in the event that your relationship comes to an end.
What is a Cohabitation Agreement?
In basic terms, a cohabitation agreement is a legally binding contract between two people who are living together but not married. A good cohabitation agreement will address how the following matters will be addressed during your relationship and in the event you decide to part ways:
- Property
- Debts
- Inheritance
- Children
- Health care issues
- Estate planning issues
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