A live together agreement, also known as a cohabitation agreement or a domestic partnership agreement, is a legal document that outlines the rights and responsibilities of couples who choose to live together but are not married. The agreement can be used to protect each partner`s interests in the event of a breakup or death.
Why is a live together agreement important?
While it may seem unromantic to discuss the possibility of a breakup or separation when you are in a committed relationship, creating a live together agreement can actually strengthen your relationship by ensuring that both partners are clear about their expectations and obligations. The agreement can help avoid misunderstandings and conflicts down the line, and can provide a sense of security and stability for both partners.
A live together agreement can cover a wide range of issues, including:
1. Financial matters: The agreement can specify how household expenses will be divided, how joint bank accounts will be managed, and how debts and assets will be divided in the event of a breakup.
2. Property rights: The agreement can clarify who owns what property, and can outline how property will be divided if the relationship ends.
3. Medical decisions: The agreement can establish how medical decisions will be made if one partner becomes incapacitated.
4. Child custody and support: If the couple has children together, the agreement can address issues such as custody, visitation, and child support.
How to create a live together agreement
Creating a live together agreement is a relatively straightforward process, but it is important to consult an attorney who specializes in family law to ensure that the agreement is legally enforceable. The attorney can help you identify the issues to be covered in the agreement, and can provide guidance on how to structure the agreement to meet your specific needs.
Once the agreement is drafted, both partners should review it carefully and make sure they understand all of its provisions. Both partners should sign the agreement in the presence of a notary public, and each partner should retain a copy of the signed agreement.
In conclusion, a live together agreement can be an important tool for couples who choose to live together outside of marriage. By clarifying each partner`s rights and responsibilities, the agreement can help strengthen the relationship and provide a sense of security and stability for both partners. If you are considering a live together agreement, it is important to consult an attorney who specializes in family law to ensure that the agreement is legally enforceable.