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What are Cohabitation Agreements?

Monday, 11 January 2010

cohabitationWith so many people “cohabitating” these days, it is no surprise that many have chosen to protect themselves with a Cohabitation Agreement.  If you are looking to establish this type of agreement in Colorado, a Colorado Springs Family Law Attorney can help.

Just like pre-nuptial agreements, cohabitation agreements are drafted as a way to project into the future.  By identifying likely issues that could arise in the even that a cohabitation arrangement doesn’t work out, these agreements are designed to ensure that the rights of each party are protected. 

A cohabitation agreement applies to parties that live together but are not married.  On some occasions, these agreements explicitly state that the parties never intend to wed, but rather they will share a residence and expenses in a specific way.  In other cases, cohabitation agreements are designed to prevent the parties from the comingling of finances.  Either way, the primary goal is to reduce the stress associated with any changes in the relationship and ensure the probability of its success.  When the parties enter into a contract like this it clarifies their intent with regard to the nature of their relationship and is fully enforceable by Colorado courts.

While the purpose of a cohabitation agreement may seem similar to that of a pre-nuptial agreement, in that they both project into the future, the purpose of each document is different:  a pre-nuptial agreement is one that assumes the parties will enter into a marriage together, and a cohabitation agreement assumes that they will not marry.

Even if you only intend to cohabitate for a short time, and eventually marry, it is always a good idea to be sure that your financial interests are protected.  For more information on drafting a cohabitation agreement, check with a Colorado Springs Family Law Attorney.

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