Cohabitation Agreement: Why You Might Need One

Marriage rates continue at a steady decline in the U.S. in stark contrast to the rising number of U.S. adults in cohabitating relationships, with the figure reaching to about 18 million in 2016. The number is up by as much as 29 percent since the figure recorded in 2007, at 14 million adults, Pew Research reports.

If you’re in a cohabitating relationship, here’s why you might want to look for a cohabitation lawyer to help you draw up an agreement. This could make things easier for both parties later on.

What is a cohabitation agreement?

This is an agreement to help clear up any legal uncertainty that might follow in the wake of the relationship’s breakdown. This agreement serves to protect both parties in the same way that married couples are protected in the event of a divorce. The legally binding document will make it easier for each person in the relationship to retain rights to a fair share of any assets the couple might have accumulated together.

Do you need a lawyer?

A cohabitation lawyer can help you and your partner draft the agreement. If you and your partner plan on buying property, a car or any assets together, then having this agreement drawn up is one way to cover your legal bases. With the help of a lawyer, you and your partner are fully aware of your rights and what you can expect out of the agreement.

Where to find one?

Look to friends and family first. Ask around. Get referrals and tips from people you know and trust. Do a bit of research online as well. These measures should be more than enough to get your names for a list. Once you have that, start checking out credentials and qualifications to help you find the right lawyer to handle your case.