So we have all been there at the start of the dating game or as my mother would call it “courting”, when it’s all very exciting and is often referred to as the “honeymoon period”. For those of you who have been successfully matched using Intro NW, you may be ready to take the next steps of moving in together or may even be getting engaged!
However, there are some people who have unfortunately been stung financially when separating or divorcing from their ex and it’s wise to learn from those mistakes and not let it impact negatively on any future relationships or marriages. Equally some people may have come away with financial assets they want to protect, especially if they have children from a previous relationship. Whether you are choosing to live together as a “cohabiting couple” or you are looking forward to walking down the aisle, we can help ease the potential niggle at the back of your mind, in relation to protecting your financial position if for whatever reason the relationship breaks down.
Let’s face it, this is not the most romantic topic to approach with your other half and we are by no means saying that the relationship will break down. Treat what we provide as an insurance policy “just in case” something were to happen later down the line. If anything, the agreements we provide should avoid the need to instruct a solicitor if the relationship or marriage breaks down, as the arrangements in relation to the finances should speak for themselves within the agreement.
There is no such thing as the common law spouse. It is a complete myth and so many a person (usually the financially weaker of the two) has fallen foul of believing that because they have lived together with their partner for 20 years that they are automatically entitled to their property, income and pension. This just simply is not the case. The law dealing with unmarried couples who live together is very different to the law that deals with married couples who divorce and their financial entitlement.
For those who want to live together without getting married, we can prepare a “Cohabitation Agreement” or “Living Together Agreement”, which is contractually binding between a couple and it records the financial arrangements and what would happen at the end of a relationship. It can be used to record who pays what during the relationship, who would be entitled to what assets if the relationship breaks down and it can also be used to protect assets so that the other cannot make a financial claim if the relationship ends. The agreement should be used as a constructive tool which then avoids any acrimony, stress and upset if the relationship breaks down.
For those who want to get married but protect an asset such as a house or business, we can prepare a Prenuptial Agreement. Whilst such an agreement is not yet 100% legally binding in England and Wales, it is persuasive and can be later relied upon by the Court if the marriage breaks down and there is a dispute over the finances.
It is also important to re-visit or make a Will if you cohabit or re-marry as again the law is different for each scenario.
Maguire Family Law is a niche family law practice and so the team lives and breathes family law issues and disputes on a daily basis. We are committed to providing a professional and efficient service, which is cost effective. We offer constructive and pragmatic advice from the outset of any case. If you have any queries about cohabitation or prenuptial agreements then please contact us on 01625 5
44 650 or email email@example.com quoting “IntroNW”.