Cohabitation - What's That???

So you are in a relationship and make the decision to cohabitate – believe it or not there’s some pretty important guidelines that one should know before making this move.  Although cohabitation may be appealing to you and your partner, before jumping into a lion’s den take time to study the family laws in you State concerning cohabitation.

It’s important to have a discussion about the financial responsibility of each party.  Who’s going to pay rent, utilities and other costs?  Many make the mistake of jumping into this type of relationship without considering what happens, if and when there is a parting of the ways.   

Don’t throw all of your money in one pot with the idea of living happily ever after.  Be a good book keeper and maintain a written record of all expenses or major purchases that you make. If buying a house together both names should appear on the contract as buyers – the same with a car if both parties are paying for it. 

A written agreement is a good idea because it gives both parties some legal protection.  Decide what the financial obligations are of each party - write them down and keep a copy of said agreement. This type of arrangement actually protects both parties if in the future there is a separation.

When there are children from this relationship – both parents are responsible for caring and supporting the child or children.  Not being married doesn’t give you a free “not responsible” for children card.

When loaning money it’s best to write a check along with a note on how the loan will be repaid – handing out cash isn’t a good idea – you need a record showing the amount and date of the loan.

Best advice when cohabitating is this - protect yourself by keeping accurate records. If you decide to stay at home and care for the children, consider yet another written agreement that shows the other partner’s legal responsibilities in the event the relationship ends.

Beware of a palimony lawsuit – don’t pretend to be Mr. and Mrs. “Jones” when out in the public eye.  A joint checking account is definitely a “NO No.”  If you’re the one making major purchases and paying for them don’t put the other partners name on the title or contract.

Cohabitation sounds like a neat, easy way to live one’s life, but with this type of arrangement comes many responsibilities.  Neither party gets a free ride here! The family laws in your State will give you good guidelines before making a final decision about cohabitating. 

As Always,

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Little Tboca