Thursday, October 11, 2007

Cohabitation Agreements - Who Needs One?

In today's society, for many people, establishment of a
cohabitation agreement is of prime importance.  Not having
such an agreement in place between life partners can have a
significant and lasting negative impact on both members of
the relationship.  The financial health of the relationship
as well as other matters hangs on considering the questions
brought up by such an agreement.

That having been said, just what is a cohabitation
agreement?

Simply stated, it is, as its name implies, a written
contract that life partners may choose to enter into prior
to living together in a permanent relationship.  A
cohabitation agreement can be used to address a range of
financial and property issues which may occur during the
relationship, and, should the relationship end, can provide
not only protection for both parties but contribute to an
amicable dissolution of the relationship.  Taking care of
such issues before the need to address them occurs is one
way of relieving stress on the relationship and allowing
the parties to get on with the business of being of value
to each other.

Recent news stories have tended to  focus on same sex
relationships and the financial and legal difficulties
faced by same sex partners in most cases.  As a result of
this media exposure, many people would have no problem
understanding why gay couples, or even non-gay but same sex
life partners, would have an interest in cohabitation
agreements.

However, the public at large, including perhaps some people
in these relationships, may not realize that another large
segment of the population also may need access to these
types of legal forms and documents.

The first phrase to look at is simply 'unmaried life
partners'.

These 'life partners' could be a child living with and
tending to the needs of an aging parent for example.  In
another instance, it could simply be two people of the same
or different sexes, each of whom have permanently taken
upon themselves a partnership with the other for whatever
reason.

The key issue for determining the possible need for a
cohabitation agreement is that they are individuals who are
living together in what is considered and intended to be a
long term situation.

While this article is certainly not intended to provide
legal advice, it might be in the interests of anyone who
finds themselves in this sort of situation to either
contact a lawyer for advice on their options or look into
some sort of cohabitation agreement software or do it
yourself legal forms.

A valuable point to consider should you decide to follow
the do it yourself route is what additional documents you
and your life partner may need beyond the cohabitation
agreement itself.  While the cohabitation agreement does
address many important matters concerning finances and
property during the relationship and upon its possible
dissolution, there are other issues not specifically
covered by a cohabitation agreement alone.

For example, there will be questions of finances, health
care, property rights, and after-death issues which will
fall outside the scope of the cohabitation agreement.  Just
as a married couple would normally address these by
preparing such legal forms as quitclaim deeds, power of
attorney, last will and testament, and/or a living will or
living trust, life partners will also be well advised to
consider these issues as well as the items covered in a
standard cohabitation agreement.  Not always having the
same protections under law as a typical married couple
might have, it is important for life partners to be more
diligent in preparing for all eventualities in advance of
need.

Fortunately for many who need this sort of service, there
are many comprehensive cohabitation agreement software
packages and legal forms bundles which are available
online.  It would be in the interest of anyone in a
long-term relationship with someone who could be considered
a life partner to look into this type of material.


----------------------------------------------------
Donovan Baldwin is a freelance writer living in Central
Texas. He is a University of West Florida alumnus with a BA
in Accounting, and is a member of Mensa. He has a webpage
where you can learn more about cohabitation agreements at
http://legal-forms-supermarket.com/about/life_partner_cohabitation.html .
 

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