Cohabitation Agreement UK Cost: What You Need to Know
If you`re in a committed relationship but not married, you may want to consider a cohabitation agreement. This legally binding document can help protect your financial interests and provide clarity in the event of a breakup. But how much does a cohabitation agreement in the UK cost? Here`s what you need to know.
What is a Cohabitation Agreement?
A cohabitation agreement is a written contract between two people who live together but are not married. It outlines the financial and practical aspects of the relationship, such as who owns what assets, how expenses are shared, and what will happen if the couple decides to separate. It can also cover issues such as inheritance and the care of any children.
Why Have a Cohabitation Agreement?
There are several reasons why you might want a cohabitation agreement. First and foremost, it can help protect your financial interests. Without one, you could be at risk of losing your home or other assets if your relationship breaks down. It can also provide clarity and help avoid disputes, as both parties know exactly where they stand in terms of their rights and responsibilities.
How Much Does a Cohabitation Agreement Cost in the UK?
The cost of a cohabitation agreement in the UK can vary depending on several factors, such as the complexity of the document and the experience of the solicitor drafting it. Generally, you can expect to pay between £500 and £1,500. Some solicitors may charge an hourly rate, while others may offer a fixed fee.
It`s important to remember that a cohabitation agreement is a legal document, and as such, it`s not something you should try to do yourself. Hiring a solicitor who specialises in family law is essential to ensure that the agreement is legally binding and can hold up in court if necessary.
A cohabitation agreement can provide valuable protection and clarity for couples who are not married but living together. While the cost of a cohabitation agreement in the UK can vary, it`s important to seek professional legal advice to ensure that the document is legally binding and meets your specific needs. Investing in a cohabitation agreement now can save you a lot of stress and expense in the future.