Moving in with my partner - protecting my assets
If you are entering into a new relationship and moving in with your new partner, you might want to protect your assets and finances. After all, circumstances can change, particularly after a marriage or inheritance, and you may well want to put an agreement in place on how to split your assets if the relationship breaks down. We are experienced in helping clients with pre- or post-nuptial agreements, as well as cohabitation and separation agreements.
If you're buying a property jointly, but each of you is contributing different amounts, it's worth drawing up a Declaration of Trust. This is a legal document which details how the proceeds of any future sale should be divided. This safeguards both parties interests. If you have already bought a property, a Declaration of Trust can still be prepared provided that your co-owner agrees.
Cohabitation and Living Together Agreements
Moving in with your partner can be an exciting time, but it is important to remember that couples who live together have hardly any rights compared to married couples or civil partners. This means that if the relationship breaks down, or one partner dies, your assets may not be protected in the way you would like.
With this in mind, if you decide to move in with your partner, it is a good idea to draw up a living together agreement. This agreement records what each party is contributing to the household and can help you sort out the day-to-day workings of living together, as well as enabling you to agree what happens to the house and associated assets if the relationship breaks down.
If you would like to discuss drawing up a living together agreement, please contact our Family team.