Should I Sign a Cohabitation Agreement?
There are many reasons as to why people enter into cohabitation agreements. Some people do not want the label and expectations of a marriage. Others enter into cohabitation agreements for more practical reasons. If you are considering signing a cohabitation agreement, a Frisco, TX family law attorney can advise you of your rights to help you make an informed decision.
At The Law Office of Linda Risinger, we provide representation and counsel for couples in all kinds of living situations. We can look closely at your circumstances and help you negotiate an agreement that protects your rights. No matter your situation, we will pursue a cost-effective solution to minimize risk and liability later down the line.
Who Should Pay for Living Expenses in a Cohabitation Agreement?
If you intend to live together with another person for a long time, you may want to set expectations about each other’s financial responsibilities. By signing a cohabitation agreement, you can clear up those responsibilities in writing. The agreement might include how you will split up your rent or mortgage as well as other living expenses like utilities. You and your partner can also set a budget to hold each other accountable.
A cohabitation agreement can lay the groundwork for a mutually beneficial relationship and help prevent disputes later on. Our lawyers can review your agreement and go over any vague areas in the document.
How Is Property Divided if a Cohabitation Agreement Breaks Down?
It is important to keep in mind that a cohabitation agreement is not the same as a marriage, and that cohabitating partners are not automatically entitled to the same rights as spouses. If you decide to stop cohabitating with your partner, you will have to figure out how to divide property.
There are many different kinds of property that you may have to account for in the event of a breakup, such as real estate, vehicles, furniture, and bank accounts. At The Law Office of Linda Risinger, we can help you create a clause for property division, and if needed, we can help you negotiate a fair settlement between you and your partner.
Can I Get Financial Support in a Cohabitation Agreement?
Before you sign a cohabitation agreement, you should consider how a breakup might affect your financial situation. While you cannot get alimony in a cohabitation agreement, you and your partner could agree on a predetermined amount of support. In other words, you can arrange for financial support like alimony, but it has to be agreed upon in the document.
Whether you are married or cohabitating, it is difficult to predict the course of your relationship. Making a contingency plan in the case of a breakup may be advisable. At our firm, we can work with you to create a cohabitation agreement that protects you in the long term.
Meet With a Collin County, TX Family Law Attorney
Making the choice to settle down with a partner can be a wonderful thing. If you want to sign a cohabitation agreement, you should make sure that you review the terms carefully. At The Law Office of Linda Risinger, our Frisco, TX cohabitation agreement lawyers can provide you with the legal guidance you need. We are open for free consultations at 972-294-6533.