Posted by Simon Bassett, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Cohabiting Couples Signing No-Nups
Over the last 20 years, the number of cohabiting couples within the UK has increased to more than six million; yet despite many misconceptions, cohabiting couples do not have the same legal rights as married couples.
However, in an attempt to legally protect themselves in the event of a relationship breaking down, it has been revealed that a number of cohabiting couples have been signing “no-nups”
Similar to a pre-nuptial agreement, a no-nup provides cohabiting couples with legal protection should a relationship breakdown; with the agreements adding similar legal weight as a pre-nuptial agreement provided that they are properly effected
These agreements will enable couples to protect property and assets owned before they cohabitated to ensure ownership is retained should a relationship end. Theagreements can outline that each partner is to retain their own income, whilst any assets purchased jointly can be divided equally, as can joint debts be. The agreements can also outline how household bills and legal expenses are to be paid by each partner.
For those couples who are cohabiting and wish to discuss how they can protect themselves, our experienced family law solicitors in London are able to assist; contact Patrick Hart in our Family Law team.
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