Why Should I Protect My Interests In Cohabitation?
You and your partner may choose to live together without the future prospect of marriage. However, cohabitation may place individuals at risk financially. If cohabitating partners split, they do not have the right to equitable property division that protects divorcing married couples. It may be difficult to determine which individual owns property, and there is no obligation to financial support.
Fortunately, unmarried partners can draft legal contracts, commonly called cohabitation agreements, to protect their interests outside the confines of marriage. Call 612-254-6409 to schedule a free consultation with one of our attorneys at Bowden Cyr, PLLC.
Protecting Your Interests In Cohabitation
We help cohabitating couples establish joint-ownership agreements and written contracts that clearly establish:
- Property division in the event of death or separation
- Property that you would like to remain separate
- Distribution of inherited or gifted assets
- Responsibility for expenses and debts
- The preferred method for dispute resolution in the event of separation
Do not assume that a verbal agreement will protect your interests. A formal legal document is the only way to ensure that your assets are protected in the event of death or separation.
Minnesota courts will not listen to shared property claims unless you have a formalized cohabitation contract. This makes financially dependent individuals especially vulnerable. If you and your partner separate without a contract, you will have no claim to property division.
Protect Your Financial Future Today
Contact us at 612-254-6409 to schedule your initial free consultation with our Woodbury lawyers. You may also contact us online. We will work with you to develop a personalized cohabitation plan that protects you and your partner.