Generally such an agreement would confirm who owns what presently, what the financial arrangements should be while you live together e.g. how much you should each contribute to the joint account on an on-going basis and what should happen to the assets and any debts if you split up. 

A cohabitation agreement can be entered into either before you start living with your partner or during your cohabitation. 

If the agreement is reasonable, you have exchanged financial information and you have both had legal advice the court is much more likely to follow its provisions if there is a dispute in the future. 

It is important to review the document periodically and particularly if there are any big changes in your circumstances such as the birth of a child.

As the law stands currently there is no particular set of rules that applies if cohabitants split up which can make things very complicated and uncertain.  This is where a cohabitation agreement can really help to reduce areas of friction on separation and reduce legal costs.  Just discussing what would happen in the event of a separation before the couple is embroiled in an emotionally charged situation can also pay dividends. 

George Green’s Specialist Family and Divorce Lawyers give advice regularly about cohabitation agreements.  If you wish to discuss your matter in a free initial telephone consultation call Mark Vandaele on 01902 796930 (mvandaele@georgegreen.co.uk) at our Wolverhampton office or Jane Williams on 01384 340 528 (jwilliams@georgegreen.co.uk at our Cradley Heath office.