What is a Cohabitation Agreement?
When a couple is not married, a cohabitation agreement should be created. Simply put, a cohabitation agreement defines property rights and the roles and responsibilities of each party in a relationship. There are several benefits of creating a cohabitation agreement, as this type of agreement can:
- Designate what assets and property are considered separate property
- Designate what assets and property are considered marital/community property
- Define each person’s roles and responsibilities in regards to child custody and child support
- Legally acknowledge that a cohabitation relationship exists
- Define each person’s roles and responsibilities in the relationship
Who Should Get a Cohabitation Agreement?
Cohabitation agreements are ideal for people who live together and are in a committed relationship, but do not wish to get married or cannot get married. This primarily applies to gay and lesbian couples (as California does not recognize gay marriage), but it also applies to heterosexual couples who simply do not want to get married.
If you are involved in one of these types of relationships, it is in your best interest to create a cohabitation agreement. The state only awards rights and benefits to married couples, which means if something were to happen to your partner or if you and your partner were to break up, you would not have the same rights and protections that married couples have in the wake of a divorce. The only way you can protect yourself is by creating a cohabitation agreement.
Riverside marital agreement attorney Michael R. Young has a great deal of experience and an in-depth knowledge of California marital law, and can help you and your partner draft a cohabitation agreement that is customized to the needs of your relationship. Mr. Young understands the importance of having such an agreement, and can ensure your needs, wishes, and concerns are included.
To learn more, please do not hesitate to contact the Law Office of Michael R. Young today at (866) 902-5290!