WHAT IS A COHABITATION AGREEMENT?

A cohabitation agreement is a legally binding agreement between individuals that share their abodes, finances and in some cases parental duties. The agreement provides guidance in the way the couple conduct their day to day lives and can provide instructions at to what will happen in the event of illness, separation and or death.

WHEN DO YOU NEED A COHABITATION AGREEMENT?

A Cohabitation Agreement is needed when two persons regardless of sexual preference decide to share their home, finances, parenting responsibilities and or decide that they want some of the same benefits traditionally accorded to married couples who are similarly situated. The agreement is needed to provide guidance and to ensure the rights of the individuals who are co-habituating. Until recently a couple who lived together had very little rights to the property of the other person with which they may have shared most of their lives. An unmarried couple is not provided with the same or even similar benefits that married couples receive unless they have a legally binding agreement. Although the cohabitation agreement provided increased protections and benefits prior to 2016 a registered domestic partnership provided more protections to same-sex couples than did a cohabitation agreement.

WHAT IS INCLUDED IN A COHABITATION AGREEMENT?

A cohabitation agreement should include the following:

• Names and identifying information for each partner.

• A comprehensive list of all property jointly owned: homes, bank accounts, vehicles, debts, etc. and detailed instructions as to how the property should be divide in the event of separation and or death.

• Proof of the amount and nature of the contributions each partner provided during the duration of the relationship.

• A list of all property and assets that each partner acquired before the relationship began and that the couple does not want to be considered during an equitable division of their assets.

• An extensive and well thought out parenting plan and schedule for the care and provision of benefits of any children, pets or other encumbrances that will need to be provided for after the relationship has been dissolved.