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Page 6 of 15 |
What about ‘living together’ contracts for couples who do not plan to marry? |
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The same concerns and considerations by couples who do plan to marry and who draw up a premarital contract apply to couples who never plan to marry.
As with prenuptial agreements, safeguarding income and assets – and negotiating an agreement -- in the event of termination of the relationship or death is far easier to accomplish when neither party is angry, under stress and/or hostile. The agreement should cover all the property (and debt) you had at the beginning of the relationship as well as any property you accumulate. Normally, you would add provisions for support (or lack of support), on keeping each person’s property and income separate, sharing expenses, living arrangements, personal belongings, and so forth. Some include provisions for arbitration or mediation to deal with future disputes.
To accommodate both parties’ interests and assuage any worry about the legality of the contract, we suggest having the document drawn by lawyers representing each partner, or checked by separate lawyers if you have created your own contract. |
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