A cohabitation agreement sets out how you and your partner will manage your day to day finances. You can make one before you start living together or at any other time.
Your agreement can cover how you’ll share the rent or mortgage and bills and how to deal with any bank accounts, property or assets if you later separate. It can be useful to agree things fairly when you first get together, to avoid the difficulties and emotional pressures which can arise when a relationship breaks down.
In fact, an agreement can strengthen your relationship by lessening the worry about what would happen if you do separate - preventing disagreements and avoiding potentially costly court proceedings.
A cohabitation agreement might cover:
- contributions to rent, mortgage or household bills
- how each of you will deal with any debts
- contributions to deposit when you buy a house
- joint bank accounts
- life insurance
- other significant items like cars and furniture
We’ll ask you to provide all the information we need and prepare the cohabitation agreement and advise you on how to complete it and get it witnessed. You and your partner will then receive an original copy.