Cohabitation and pre-nuptial agreements
Cohabitation and pre-nuptial agreements
Cohabiting couples i.e. Non- married couple who live together, do not generally have automatic rights to each other’s property. If a partner dies, cohabiting does not entitle a person to inherit.
However, if a cohabiting couple separates and there are children involved, both cohabiting partners may have rights and responsibilities.-even if only of them is the biological parent of the child(ren).
Here at Kingdom Solicitors, we assist in making cohabitation agreements for those individuals who are living together but are not planning on getting married or entering a civil partnership. Cohabitation agreements addresses issues relating to how a cohabiting couple want to handle their financial matters.
During this time, we also encourage cohabiting couples to make a will and consider issues such as taking on parental responsibility for step children; both of which we assist in.
Pre-marital Contract
For couples getting married (or entering civil partnership), a pre-marital contract/ agreement achieves a similar role. Such agreements are important where there are substantial assets involved or children from a previous marriage.
Although a pre-marital contract may not be strictly enforceable, an agreement that’s been agreed prior to entering a marriage can influence the financial outcome if ever a couple divorce in the future. We ensure that drafting and finalising of such agreements/ contract are drawn up properly.
Pre-nuptial agreement usually covers, but not limited to the following:
- How assets including money, shares, pension etc. are to be divided
- What will happen to parties’ properties- who will entitled to live where?
- Any ongoing maintenance payments to paid to the other party and how long
- Any maintenance to be for the children
- In international cases (e.g. if a couple own properties in more than one country or one or both persons are of different nationalities), the country where the divorce proceedings are to take place.