Cohabitation Agreements In New York
Unlike prenuptial and postnuptial agreements, cohabitation agreements are designed to provide contractual rights to partners who do not intend to be married under the laws of the state of New York. Those who live together, despite their treating one another as family, may one day come to realize that the laws do not provide adequate protection to unmarried partners in the event of a break-up or death. In an unfortunate turn of events, you may be treated under the law as a stranger to your partner. The fact is that unless you and your loved one marry or enter an agreement, you may find yourselves without any rights with regard to property distribution upon death or dissolution.
There are many reasons why individuals choose to live together without marriage. Sometimes living together represents a move toward marriage or a permanent commitment. But sometimes couples wish to avoid the legal complexities and social pressures of marriage and design individualized terms and conditions to protect their relationship in the form of a cohabitation agreement. For couples who wish to reduce their living expenses or for elders who see no legal reason to be married, cohabitation agreements provide a comfortable solution. Drafting the agreement requires a thorough understanding of the legal rights that need to be addressed in a particular set of circumstances.
Cohabitation Agreements And Your Rights
When a cohabitation agreement is entered into, it most often addresses matters such as property distribution at death or when the two parties separate; the responsibilities of each party with regard to bill paying and other living expenses; insurances; beneficiary status as well as addressing any liabilities incurred in the partnership. A Nassau County divorce lawyer from the law firm of Jane K. Cristal, P.C., will familiarize you with the issues and provide guidance so that the most effective cohabitation agreement may be drafted. Given the complexities involving significant property ownership, inheritance rights and health and insurance-related issues, cohabiters are best protected by negotiating terms and entering into an agreement.
Contact our Nassau County agreement attorney if you are interested in drafting a cohabitation agreement. We serve clients throughout Long Island, as well.