Nearly everyone has heard of prenuptial agreements and even post-marital agreements. Not everyone, however, may be familiar with cohabitation agreements. These are agreements between those who cohabit or live together without the legal benefit of marriage.
Such an agreement is similar to a prenuptial agreement in that it can set out the rights and responsibilities between the two parties should the relationship end. Financial matters including property, assets, liabilities, and more often become mingled and interdependent among those who live together, especially those in long-term relationships. Often, these relationships can last for years; without marriage, however, these parties can be viewed as total strangers in legal terms when it comes to dividing or distributing or otherwise dealing with their financial history should they decide to separate or should one of them pass away.
A cohabitation agreement will define the couple’s arrangements pertaining to their finances, property, and personal items. It can include who the parties are, their place of residence, and how long they have been together; what percentage of each person’s income will go towards living expenses; and a list of each person’s assets and liabilities. It can also cover such matters as medical decisions should one of the partners become seriously ill or incapacitated, heath insurance matters, how payment of debts shall be handled, as well as how property, even untitled household furniture or other possessions, will be divided. It may even extend to how pets would be divided. Each agreement will, of course, be a completely individual document based on the particular couple’s needs and specific circumstances.
According to the American Academy of Matrimonial Lawyers, 39 percent of its lawyers have seen an increase in cohabitation agreements in the last five years. Almost half of its lawyers have seen an increase in legal battles between couples who have cohabited.
Divorce and Family Law Attorney in Tampa, Florida
Many legal issues can affect couples and families, whether they are legally married or not. These can range from divorce to child custody, paternity, visitation, enforcement of court orders, and more. Often, these are difficult and troublesome for the parties involved and can have long-range effects on their lives. That is why when facing a family law matter it is best to seek the legal guidance of an attorney who focuses on this practice area.
The Law Offices of Manuel Fajardo serves divorce and family law clients in Hillsborough, Pasco, and Pinellas Counties with committed and knowledgeable legal service. Mr. Fajardo and his legal team have helped innumerable individuals and families throughout the area sort out the tough decisions and issues that need to be addressed through family courts. The firm offers its services in both English and fluent Spanish and offers a free case consultation to help you get started. If you are facing any kind of family law issue, such as the need for a cohabitation agreement, divorce, or other matter, contact the firm to discuss your case with an attorney today.