Are you living with your partner? Do you know how important cohabitation agreements are?
Have the conversation early in order to be clear about your values, lifestyle, and what your behavior will be in certain situations and challenges
In this episode, Gloria Petroni, of Petroni Law Group discusses different dynamics of cohabitation agreements along with examples and situations she has seen.
- Cohabitating – when a couple is living together and do not formally register their relation as a marriage. Cohabitation Agreements protect both parties from unnecessary cost and litigation should the relationship dissolve.
- Cohabitation is when a couple is living together and/or having a sexual relationship without formally registering their relation as a marriage. There are many reasons parties may want to commit to live with another person for an extended period of time.
- Whenever parties are living together and anticipate doing so for a several year period, we recommend a cohabitation agreement which is a form of a legal agreement for couples who want to live together in order to protect themselves from unnecessary cost and litigation should their relationship dissolve.
- This allows the regulation of property rights, arrangements for dealing with expenses, caring for each of the parties’ children, funding college for children, paying off debt by one party.
- This agreement also describes each person’s financial obligations and details which party is responsible for outside expenses. Cohabitation agreements should set forth the division of chores including when each party will do his laundry, clean the dog run, and expectations such as alcohol consumption, exercise, etc.
- Read more about Cohabitation and Cohabitation agreements: http://petronilaw.com/cohabitation-agreements/
Gloria Petroni of Petroni Law Group has more than 30 years of experience in divorce law, estate planning, probate, business and real estate matters.
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