Moving in Together? Consider a Cohabitation Agreement to Protect Yourself

 Posted on December 28,2022 in Property Agreements

The thought of living with your significant other may sound romantic, especially during the holidays. Perhaps you are more practical and have financial incentives to live together. Whatever your situation, before you make the decision to take the plunge and make a firmer commitment you may want to consider a cohabitation agreement to protect yourself.

Cohabitation Agreement Key Points

Couples who cohabitate do not generally have the same legal protections that married couples do. A cohabitation agreement, however, can offer some peace of mind. It is an accord between couples involved in an intimate and long-term relationship. Texas recognizes common-law marriage but you will only be considered legally married if you have presented yourself to others as married spouses. This can be difficult to demonstrate because often couples do not make the effort to legally formalize their relationship.

If you are contemplating living together and you have no intention of getting married, it might behoove you to create a cohabitation agreement. This is a written agreement signed by the two interested parties. The cohabitation agreement can address the following points:

• Expenses – Unmarried partners can decide how they will divide expenses and if they will have a joint bank account.

• Property rights – Property agreements by the couple provide valuable legal protections in case you ever part ways. They address property, vehicles, and financial assets.

• Inheritance rights - If a partner dies, specific decisions regarding inheritance and the funeral would have already been made. 

• Emergency decisions – Under a cohabitation agreement a partner can give the other the authority to act on their behalf if there is an emergency.

• Financial support – When one partner has a higher income, they may agree to financially support the other in the event of a breakup. You can, of course, write in exceptions in the agreement, including infidelity.

This can be a difficult conversation to bring up, but it is not out of this world. People who are in love and about to get married have drafted prenuptial agreements. At The Law Office of Linda Risinger, we believe that the growing number of people who are choosing to live together should protect themselves, too. 

Contact a Denton County Cohabitation Lawyer

If you are unmarried and living with your partner in Texas you may want to consider protecting your rights in case the love does not last forever. At The Law Office of Linda Risinger, we can help you create a cohabitation agreement that addresses your concerns. A  Frisco cohabitation attorney can guide you through the process Call 972-294-6533 for a free consultation.

Source:

https://texas.public.law/statutes/tex._fam._code_section_1.108