When love breaks down

It's amazing how many people are surprised to hear that they don't get the same legal protection as a married couple, simply because they’ve been together for a long time. The truth is, you can live with your partner for years and never really be sure whether or not you’d have any rights if things went south. And while some people might think they're living in their own little 'common law marriage', it turns out there's no such thing – the only way to get real legal protection is through an actual marriage! So if you want to ensure that neither of you will get left high and dry if the relationship breaks down, put on your best suit (or dress) and make it official!

But if you're not quite ready to go down the aisle just yet, then a cohabitation agreement is the next best thing. Put simply, this is a document that sets out how you would divide your finances and possessions if things don't work out. This could be anything from who gets what furniture, right up to how any savings or investments will be split. It's like an insurance policy for your relationship - an investment in its future – so it's worth taking the time to do properly.

Getting life insurance is also something that should be seriously considered by all couples, married or not. It’s usually not as expensive as people think and provides peace of mind knowing that if one of you were to pass away, there would be something to help the other get back on their feet financially. It’s a sad thought, but an important one worth discussing and planning for.

In any long-term relationship, it pays to make sure you know where both parties stand legally if things don't work out – whether that's through marriage or a cohabitation agreement. And while taking these precautions can seem like an unpleasant task at first, it really is better to sort this stuff out now rather than having to deal with a legal mess later down the line! So do yourself (and your partner) a favour and take control of your future today. You'll thank yourself later!

For advice on how best to protect yourself when purchasing a property outside of marriage please contact us davidp@mjpconveyancing.com