INSIGHT AND GUIDANCE ON COHABITATION AGREEMENTS FOR THE WORKING AND MIDDLE AGED.
Those seeking a cohabitation agreement tend to fall within three groups.
Group 1 consists of those wishing to purchase their first home. They tend to be of the younger generation; they want to protect their investment, particularly if there has been or will be an unequal contribution towards the deposit or mortgage payments, or they want to protect money advanced by family members to help them purchase.
Group 2 consists of those who have been married before or are widowed. This group tends to be of the older generation; they are looking to protect assets they have acquired over the years, primarily to pass down to future generations.
What, then, of Group 3?
This group tends to consist of people who are middle aged and working; they have been living together for a lengthy period of time, have children, family pets, joint bank accounts, joint life insurance policies, mingled assets and potentially an investment or holiday home. Whilst it is uncommon for this group to seek a cohabitation agreement, it does happen.
This article looks at cohabitation agreements in depth as they relate to Group 3.
The full piece can be accessed here in the April edition of Family Law Journal.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.