Cohabitation Agreements Specialist cohabitation solicitors in Milton Keynes

Putting a cohabitation agreement in place will ensure that both parties know what they are entitled to and what their financial situation is. It can also help prevent disagreements from arising if an agreement is set out in writing.

At Heald Solicitors in Milton Keynes, we can draw up a cohabitation agreement that helps protect your interests and rights. We will advise you about the content of the agreement before you sign it so that you fully understand the implications.

What will go in a cohabitation agreement?

You can choose what to put into a cohabitation agreement and we will ensure that you have a bespoke agreement tailored to your unique circumstances. The following issues are often included:

• What will happen in respect of property ownership, to include property owned previously and property bought or lived in together. Provision can also be made for how future property is to be owned, subject to review if circumstances change
• Financial provisions for children and specifying living arrangements post-separation
• Ownership of savings, money, and bank accounts
• Who will pay the mortgage or rent
• Payment of other bills
• Responsibility for debts
• Ownership of valuable items such as cars, jewellery and art
• Whether pensions will be divided
• What will happen to pets
• How household items will be divided

Is a cohabitation agreement legally binding?

Although a cohabitation agreement is not legally binding, if it has been properly drawn up and is fair and reasonable, making adequate provision for both parties, then the court will generally adhere to its terms if asked to make an order. A cohabitation agreement may also hold more weight if both parties have received independent legal advice as to its content.

It is therefore important to ensure the following procedure is followed when entering into a cohabitation agreement:

• Both parties fully disclose all of their assets to each other before signing
• Both parties must take independent legal advice as to the implications of the agreement before signing

If you are already living with someone and you wish to enter into a cohabitation agreement, this is possible and recommended, particularly in the light of any major changes in your circumstances such as the purchase of a property together or the birth of a child.