Unmarried couples who live together can create an agreement called a “living together contract.” A living together contract protects their rights as a couple, as well as their individual interests and assets. Because unmarried couples may one day split up, it may be quite useful to plan ahead in order to avoid any future conflicts. For example, marriage is a legal contract between two people which protects the rights and obligations that each party owes the other. Likewise, a living together contract protects the rights and obligations that each partner owes the other. The subject matter of these contracts typically include money, property, debts, etc.
Living together contracts may not be useful for every relationship. Rather, couples who are likely to accumulate a significant amount of money, property and debt might want to draft such contracts. These contracts can also be a good idea for older couples who want to make sure their property is distributed in the way that they want upon death.
In California, the guiding principles are:
Living together contracts do not have to be too complex and they can be in plain language. The partners can also include as much or as little detail as they feel is necessary. These are some items that you can consider including in such a contract:
A living together contract can still be enforceable after marriage. However, it must have been created shortly before your marriage at a time when both of you planned to marry. Also, it must meet the premarital agreement requirements in your state.
If you are considering drafting a living together contract, it is essential to list out the most important items. This is especially the case if there is a lot of money and property involved or if one partner has far more assets than the other. Moreover, you need to consider the specific rules which apply in your state. An experienced family law attorney can help explain what is required for a good contract and how to protect your rights and assets.
Last Modified: 11-25-2017 10:38 PM PSTLaw Library Disclaimer
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