Marriage is supposed to last forever and if all marriages did, family lawyers would have a lot of free time on their hands.
Negotiating, or worse, litigating, the division of assets and debt, issues about the kids, and child or spousal support can be awkward, bitter, and emotionally devastating upon divorce. A carefully prepared cohabitation agreement takes some of the pain out of parting ways.
A cohabitation agreement, more commonly known as a “prenup”, is a contract entered into by two lovers when the going’s good. The contract can address myriad aspects of the relationship, from duties and responsibilities within the relationship to planning transitions out of the relationship. Common transitional provisions include spousal support, child support, parenting time, primary care and control of the children, and allocation of family assets and debt.
While there is certainly a stigma about having a cohabitation agreement, in reality they are no different than car insurance. The fact is that we all take a risk when we get behind the wheel, and we all take a risk when we tie the knot.
Ask your lawyer about a cohabitation agreement.