Prenuptials for Non-Marrieds?

This is a mind blowing statistic - 5.5 million women in the United States live with - but are not married to - a significant other.  I guess I'm surprised at the huge number because when I lived my boyfriend way back in the middle 70s, it was not considered proper or acceptable. Things have certainly changed, and in my opinion, changed for the better. I never believed you needed a piece of paper to prove your love.  But, the years have taught me, a piece of paper sure helps when love flies out the door.

Way back in the day, my thoughts weren't focused on would happen financially if we broke up. I was young and in love and it didn't seem to matter, who would get what.  But, that all changes as we get older and start to earn real money. When we start to appreciate a certain lifestyle, we want to protect it.  So, the question becomes, is there anything you can do to protect yourself if you are in a non-marriage relationship?

The answer is yes.  You can write up a cohabitation agreement which is something between a marriage certificate and a prenuptial agreement.  It's legally binding and it specifies a number of your financial and legal issues.  Basically, it's a shared understanding of how you'll handle your assets if you were to break up.  Why is this a very good idea?  Because unlike married couples, who have divorce laws, there is no set way for cohabitants to divide their assets.

Guess what couples fight about most?  Money.  Disagreements about how much you have and how much you spend always seem to dominate. That's a great reason to address these financial issues when you are a loving compatible unit, not when you are out to hurt each other.   The cohabitation agreement allows you to prevent future problems, in the present.

How do you get started in preparing this document?  Talk about it and then start writing down everything you are discussing.  Do it with your partner or with an attorney.  If you do it yourself, without legal counsel, it won't be any less legal.  The only thing a lawyer brings to the table is knowledge and information on the laws that govern the state you happen to live in.  If you do choose to go to a lawyer make sure they are familiar with these agreements and have crafted them before.

Women never like to think their love relationship will end badly.   But, there is always that possibility and you always want to protect yourself.  Like me, you have heard too many horror stories of women who didn't.  For more information on cohabitation agreements click here.