Whether you are currently married or planning being married, it is strongly recommended that you set out rules dealing with the division of property and liabilities in the remote possibility that the relationship ends. The Agreement can be as specific or as general as you desire, it can be as creative or as standard as you wish. You can set out who is entitled to what property or what percentage of what property; which debts one or the other party is solely liable for and which are joint debts; what is joint property. You can even set out how monthly expenses will be paid during the relationship.
I will consult with you about what your specific wishes and concerns are and advise you whether an agreement is necessary. I will then draft the Agreement to suit your needs.
Most people do not enter their first marriage or relationship with an Agreement. This is generally because most people entering their first relationship are starting from scratch with equal amounts of assets and debts. However, an Agreement is recommended if it is not your first marriage / relationship, or if you have spent time as a single person building up your assets; or, if one or both of you have children from a prior relationship and have accumulated assets / liabilities. It is also important to review your Wills and how you want your estate distributed.
If you have any questions or concerns about living with someone, please contact us to discuss.
© Copyright 2018 James C. Lozinsky Law. All Rights Reserved.