The number of unmarried couples who are choosing to live together rather than getting married has dramatically increased in recent years. There is a common misconception that, after a given period, a couple living together acquires the same property, financial and inheritance rights as married couples. This is not true: contrary to popular belief cohabitants do not have rights to property or a share of assets. In fact there has been no such thing as a common law wife for over 240 years.
However, you can put a ‘cohabitation agreement’ in place and have Wills written to ensure that your wishes and needs are met if either of you die or if the relationship ends. Strongly recommended, this can cover a range of issues including who owns your property, what happens to the house and contents purchased during the relationship upon separation or death and cover responsibility for credit cards and loans and joint accounts.
Where children are involved, an unmarried mother has sole responsibility for the child and an unmarried father does not automatically acquire parental responsibility or an equal say in all the issues affecting the upbringing of his child. A formal agreement can address this to ensure that the rights of the father are agreed early in the relationship.
