Same-sex couples in New York that choose to live together may not wish to marry at the time. Living together is a sign of a committed and long-term relationship, but a couple may find it beneficial to put certain legal protections in place in case the relationship ends. This is possible by drafting a cohabitation agreement.
A cohabitation agreement shares many similarities with a prenuptial agreement, but it is valid even if the couples does not marry. If you are in a partnership yet do do not wish to move forward with marriage at this time, you may consider the benefits of this agreement. Like all important family law matters, you would be wise to have experienced guidance as you draft this important contract.
What do cohabitation agreements involve?
Cohabitation agreements, much like prenuptial agreements, can include specific factors that may be important to your specific situation. These agreements, also called living together arrangements, outline how property division and similar factors will work in case of emergency or an end to the relationship. Some of the aspects you may consider including in your cohabitation agreement include the following:
- The financial responsibilities of both partners during the relationship
- Financial support for one party in case the partnership ends
- The division of all property accumulated over the course of the relationship
- How partners will share debt after the relationship ends
- Leaving property to the partner in case of unexpected death
- Financial responsibility of health care insurance
Like other types of family law contracts, it is important carefully consider the terms you are including in your contract and how you can best protect your future interests. A carefully worded and thoughtfully drafted cohabitation agreement can give both partners a sense of financial and legal security if they decide they do not want to move forward with marriage at the time.
Important family law guidance
If you are considering a formal agreement between you and your partner, you would be wise to have appropriate guidance as you pursue this endeavor. This is an important, legally enforceable contract, and you do not want to risk errors or missteps that could lead to disputes in the future.
A complete evaluation of your case can help you understand how you can protect your interests in a same-sex relationship. Regardless of the type of relationship you have and your goals for the future, you will find it beneficial to seek a complete explanation of your legal options.