The Benefits of a Cohabitation Agreement
By Jane K. Cristal
Nov. 27, 2010 3:55p
With the wide popularity of divorce in today's day and age, more people are making a conscious decision not to marry or re-marry, these days, marriage is not for everyone. Couples still move in together, still have children, and they purchase homes and businesses together, all the while, remaining unmarried. Other than the marital contract, they behave as if they are a married couple.
In the event of a divorce, married couples have separation agreements and divorce. For those individuals who chose not to marry, if they break up, they stand to lose a lot if they do not have a cohabitation agreement in place. A cohabitation agreement is to unwed couples, what a divorce decree or prenuptial agreement is to married spouses. It clearly lays out how asset and property division will be divided, in the event of a break up or dissolution of the relationship.
What Aspects Does a Cohabitation Agreement Cover?
If you live with your significant other and you pay bills together, own property together, own a business together or one of you has financed the other's education, you should highly consider hiring a Nassau County cohabitation agreements attorney who can help you draw up an agreement that covers such issues as:
- Cohabitation with a joint bank account
- If you have purchased real estate and it is held in one person's name because the other person has bad credit
- If you and your significant other are engaged in business together
- If one person pays a majority of the household expenses
- If one person is supporting the other through school
If you are living with your significant other and you think that a cohabitation agreement may benefit your relationship or otherwise protect your assets, in the event of a break up or if one person dies, Nassau County cohabitation agreement lawyer Jane K. Cristal, PC can assist you in drafting up a cohabitation agreement. She has over two decades experience in family law and is very well respected amongst the courts and the judges.
Contact a Nassau County Cohabitation Agreement Attorney at Jane K. Cristal, PC today, for a free consultation.
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