Virginia Cohabitation Agreement Lawyer
Cohabitation agreements can be a useful tool for couples romantically involved but with no immediate intentions of getting married. These agreements specifically outline what will happen in the event the couple decides to end the relationship, providing both individuals with peace of mind in case of future separation.
With cohabitation among couples on the rise in the United States, it is important that those who are currently living together protect their individual interests and assets, as well as their rights as a couple. A Virginia cohabitation agreement lawyer can assist you in drafting an agreement that best suits you and your partner’s individual needs. A qualified family attorney can protect your and your partner’s interests.
What is the Purpose of a Cohabitation Agreement?
A cohabitation agreement is a legal document that an unmarried couple can enter into to determine their rights and responsibilities either during the relationship or following the relationship’s end. These agreements are often similar to prenuptial or premarital agreements, in that they allow a couple to discuss any potential issues before these issues arise. This ensures that both individuals have time to think clearly and rationally without the involvement of emotions.
Cohabitation Agreements in Virginia
Since Virginia law fails to recognize cohabitation as either a marriage or civil partnership, a cohabitation agreement can provide unmarried couples with a layer of protection they would not otherwise be entitled to. Utilizing such an agreement can help ensure that each individual will have some form of legal rights in case of separation. Additionally, these agreements can also prevent the need for complicated and costly litigation if a future separation were to occur.
In terms of content, a cohabitation agreement essentially sets out which individual will own what property and in what amount. As part of the agreement, the couple, therefore, has the ability to decide how they will split real and personal property, personal belongings, and other important assets. Cohabitation agreements can also address how the couple will deal with any jointly purchased items such as a vehicle, and how they plan to deal with bank accounts and other debts.
What are the Requirements of a Cohabitation Agreement?
After a couple decides how their assets are to be divided in the event of separation, a Virginia cohabitation agreement lawyer should be contacted. The lawyer can draft a cohabitation agreement based on the couples’ mutual decisions and, once complete, the parties can review the agreement to ensure each of the couple’s decisions are accurately portrayed.
In most cases, in order for a cohabitation agreement to be deemed legally binding, both parties are required to have received independent legal advice pertaining to the agreement. Each party is therefore strongly encouraged to have their own lawyer review the agreement prior to its finalization. Following this procedure ensures that any potential conflict of interest issues are avoided.
How Can a Virginia Cohabitation Agreement Attorney Help?
For Virginia residents who live together but are not legally married, cohabitation agreements can be an effective way of protecting your rights both as a couple and individually. Planning ahead for the future can help avoid possible disagreements down the road.
To learn more about how an experienced Virginia cohabitation agreement lawyer can help, contact an attorney today.
