Don't let romance cloud your judgment!
Wednesday 10th March 2010
Don’t let romance cloud judgment when it comes to your legal rights says the Law Society, the professional body representing solicitors.
With marriage rates falling, increasing numbers of unmarried couples are moving in together with no plans to tie the knot.
However, domestic bliss can easily become a nightmare if you fail to consider in advance the legal implications of cohabitation. Couples risk more than a broken heart if they do not think of the practical consequences should love turn sour.
The Law Society urges couples to seek expert legal advice before moving in together or combining finances. Having documentation in place to help assess the distribution of assets could save you a lot of time and money if you do break up.
Law Society president Robert Heslett says:
“The falling marriage rate could result in more couples cohabiting and unless people take the necessary measures to protect themselves and their assets, they could end up seriously out of pocket or even homeless if the correct documentation is not in place.
“Understandably, people do not want to think about what could happen if they break up, or one person dies, but it is much better to face these difficult issues at the beginning rather than deal with the fall out and confusion at a later stage.”
“It is prudent to get legal advice before moving in together.”
For example, if buying a property, it is especially important to seek advice if your arrangement involves significant deposits or unequal contributions.
When renting a property, ensure both parties are named on the rental agreement, otherwise you could find yourself homeless if the relationship ends.
If you have a joint bank account, be aware if you can both pay in money, you can both take it out, so requiring two signatures for any big transactions is a sensible consideration.
Children
If children are involved, fathers who are named on their child’s birth certificate have automatic parental responsibility, but this only applies to children born after December 2003.
If you have children with your partner and are not married, you and your partner will have legal responsibilities towards those children. Conversely if you are not married and have children born before that date, their father has no legal responsibility for them. Changing this is a simple matter if you both agree and one of the solicitors in our family law department will be able to assist you in compiling the necessary paperwork.
Finally, it is always important to make a will, but vital if you have children or dependents or are not married to a partner. Without a will you may find that your loved ones do not inherit any assets you may have when you die.
For further information and advice, contact our family law team at: hereford@gabbs.biz
