There has been a remarkable increase in couples choosing cohabitation over marriage. These types of relationships often develop into what we call “common-law marriages.” Couples married under common law in ct are those who declare themselves as being married without holding a marriage ceremony or getting a marriage license.
When you and your spouse are in a common-law marriage, it is important to draft a cohabitation agreement. This document helps you decide and agree on important issues, such as financial affairs, asset and debt division, and other responsibilities. There are many more advantages of a cohabitation agreement that we will read about in this blog.
Advantages of cohabitation agreements
Protect your assets.
A cohabitation agreement allows you to decide how property and assets should be dealt with if the relationship ends. If you want to keep your property to yourself and do not want to share or give a portion of it to your spouse after separation, you can do so with the help of this agreement. For instance, if your spouse moves into your house, they may have no legal rights to it after the relationship ends.
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When a couple gets divorced, usually one spouse has financial obligations to the other, such as alimony. Similarly, if your partner is financially dependent on you, they cannot demand money from you after the breakup if you state it in the agreement. However, if you two have children, you may still have certain obligations.
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A cohabitation agreement can outline the duties of each party and what responsibilities they hold. Most commonly, these documents decide who pays for what, who gets what, who owns what, and so on.
If one spouse has made significant sacrifices or given up an opportunity for the benefit of the relationship, they may be entitled to alimony after the divorce. For example, if you left your job to take care of your children and gave up on your career, you can ask for compensation and include it in the agreement. This way, even if your partner refuses to pay you later, this agreement serves as a form of protection.
All kinds of separations are difficult, be it a divorce or a breakup. The ending of a relationship can be emotional and depressing for anyone. Deciding on the important issues beforehand can provide a sense of relief in the long run and make the process easier.
If you are considering a common-law marriage, hiring an attorney and drawing up a cohabitation agreement is a smart choice. If you disagree on certain things, an attorney can suggest alternative options. This document can ensure stability in the coming years and protect your rights.