Minneapolis Family Law Attorney
Many couples choose to live together without going through the traditional marriage and wedding ceremony. While a piece of paper will legally bind you together, common law marriage or cohabitation can also bind you in certain instances, especially when you buy property together and when you have children together.
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Having a cohabitation agreement in place protects both parties in the event of a break up down the road. While you can forgo the traditional divorce proceedings and the expenses that come with it, unless you have a cohabitation agreement in place, you may still end up in court in the end. Speaking to a Minneapolis divorce lawyer about your options and securing a cohabitation agreement may be one of the smartest decisions you will ever make.
Splitting up with a partner can be emotionally exhausting without even worrying about the financial complications surrounding it. A cohabitation agreement provides stability in the end that this does happen down the road. Having a cohabitation agreement in place does not mean that you plan on splitting up or there is an expiration date on your relationship, but rather acts as insurance. It is an agreement that protects both parties in the event that the cohabitants choose to end the relationship.
Is A Cohabitation Agreement Right For You?
There are several instances when you may wish to consider a cohabitation agreement. This agreement is appropriate if you are in a relationship, but not planning to go through the formal marriage and:
- are currently living together or plan on moving in together
- are planning on purchasing property or an investment together
- you plan on starting a family together
- you already have children together
- you have assets that you want to protect
- you have children from a previous relationship
- you have been married before
- you are in a same sex relationship and have chosen not to marry
A cohabitation agreement is very similar to a prenuptial agreement. Both parties will need to sign the document and will require separate Minneapolis family lawyers. Keep in mind, however, that while a cohabitation agreement will make things easier, it will not stipulate what will happen in terms of child custody or child support. These are separate issues that will need to be addressed if you do decide to end the relationship down the road.
Contact a Minneapolis Family Lawyer
An experienced Minneapolis divorce lawyer can assist you with any questions regarding a cohabitation agreement you may have. We offer a free consultation where we can outline how a cohabitation agreement works. If you and your partner do decide to go this route, we can draft the contract and represent you. To learn more, contact Goldstein Law Office at 763-450-1500.