Cohabitation Agreements

A cohabitation agreement is an important legal document for couples who live together but are not married. It sets out each partner’s rights and responsibilities, especially when it comes to finances, property, and decision-making. Unlike marriage, which comes with certain automatic legal protections, cohabiting does not. A cohabitation agreement is a way for an unmarried couple to establish clarity and protect each partner’s interests in the relationship.

Who is a Cohabitation Agreement For?

A Cohabitation agreement is suitable for couples who:

• Choose to live together long-term but do not wish to marry
• Want to protect individual assets and financial fairness
• Have children, whether shared or from previous relationships, and want to plan for their well-being
• Seek clear arrangements about financial contributions, property, or caregiving responsibilities

A cohabitation agreement is customized to address the specific needs and goals for each couple, offering a legal safety net that reflects their unique partnership.

Key Benefits of a Cohabitation Agreement

A cohabitation agreement will help you and your partner define financial arrangements, protect assets, and make plans for your children’s future. Here are 6 key benefits:

1. Protecting Financial Interests

• • Asset Ownership: Specify who owns what, covering assets acquired before and during the relationship. This can include high-value items like real estate, vehicles, and investments.
  • Debt Responsibilities: Outline who is responsible for debts. For example, if one partner has significant credit card or loan debt, the agreement can ensure that the other partner is not liable.

2. Defining Responsibilities for Shared Children

• • Child Support and Financial Planning: If you have children together or from previous relationships, the agreement can include provisions for child support, education costs, or other expenses, with both partners contributing.
  • Custody and Parenting Arrangements: The agreement can also outline caregiving roles and responsibilities, specifying where the children will live, schooling choices, or arrangements during emergencies.
  • Guardianship Provisions: While this agreement cannot legally assign guardianship, it can provide guidance for making joint decisions regarding the children in case of separation.

3. Establishing Financial Arrangements

• • Shared Expenses: Define how day-to-day living expenses such as rent, utilities, groceries, and other bills.
  • Financial Support: Decide if one partner will support the other financially, especially if one partner is staying home to care for children or if there is a significant income difference.

4. Clarifying Property Rights

• • Property Ownership: Specify how jointly acquired property will be managed and preventing disputes if the relationship ends.
  • Protection for Personal Property: The agreement can outline which items brought into the relationship remain with each partner, in order for personal assets or family heirlooms to be safeguarded.

5. Planning for the Care of Pets

• • Pet Custody: Designate who will care for any pets, as pets are often viewed as family members.
  • Shared Responsibilities: Clarify who will cover pet-related costs, such as veterinary expenses, food, and general care.

6. Planning for the Future

• • Inheritance and Estate Planning: A cohabitation agreement can provide clear guidance about inheritance and property distribution, especially if there are children from previous relationships.
  • Medical Decisions: You can also include provisions for healthcare decision-making, naming a healthcare proxy if one partner is unable to make decisions for themselves.

How a Cohabitation Agreement Works

To create a cohabitation agreement, you will work with a skilled attorney who can help structure a fair and legally sound agreement to address all aspects of your relationship. At Vacca Family Law Group, we take time to understand your unique needs and circumstances, guide you through the process step-by-step.

Contact Vacca Family Law Group

Cohabitation agreements require sensitivity and legal expertise to reflect your relationship accurately and protect both parties. At Vacca Family Law Group, we are experienced in supporting clients through this process with compassion, clarity, and dedication. We’re here to help you protect your interests, secure your family’s future, and establish peace of mind. Contact Vacca Family Law Group online or by calling (646) 798-4603 to schedule your free introductory call.