If you are living with your partner or are considering doing so in the foreseeable future, you should seriously contemplate entering into a Cohabitation Agreement, and if appropriate, a Declaration of Trust which can provide a safeguard and certainty should a dispute arise upon separation. A Cohabitation Agreement can also protect assets and gifts from family members and can also protect your children’s future inheritance.
Data collated by the Office for National Statistics (ONS) indicates that people living together without marrying has almost doubled since 1996. In light of this, coupled with the fact that Common law marriage is a myth, it is concerning that the ONS has confirmed that, "58 per cent of respondents to the British Social Attitudes Survey in 2006 thought that unmarried couples who live together for some time probably or definitely had a 'common law marriage' which gives them the same legal rights as married couples.”
Please feel free to arrange a free consultation with one of our experts to discuss your cohabitation and why a Cohabitation Agreement is beneficial to you.