subject: Four Reasons To Protect Yourself In Living Together Agreements [print this page] No one wants to think about a relationship breaking down in the future, especially when you have just considered formulating a living together agreement. However, it is important to protect yourself. Since you are living together and not actually married to each other, the line of protection is just too thin unless you sign a formal agreement for your living together agreements.
Here are four reasons you should make sure to protect yourself whenever you enter into living together agreements:
1. Verbal agreements are just too imprecise. When you begin setting up living together agreements, its easy to get into a he said, she said battle, but when you have a contract in writing, both parties can refer back to it at any time. If the worst happens and you are splitting up the expenses of living together, like the utility bills, rent, etc., then you need to have your agreement in writing so that it becomes very clear when one of you isnt holding up his or her end of the bargain.
2. Property and money lines can become muddled. The number one issue all contracts for living together agreements should contain is finances, including all property owned. Too often people who are living together forget that the other person actually owns the car, the house, or something else. Make sure that the document lists property what was owned by each of you before you moved in together, and spell out what happens to property that you both own if purchased together while living together.
3. Formal living together agreements clarify the situation that occurs if one of you dies or if you separate. If one of you should happen to die while you are living together, it is not uncommon for family to show up and expect to receive everything they left behind, even if it was intended to be left to you. Of course having a will is also an important part of the equation because it further ensures who will get what if you die.
4. Creating a contract for living together agreements also gives you an opportunity to create a process for dispute resolution if any major situation ever arises between you.
As with any legal matter, it is vital that you protect yourself so that the law is on your side if something terrible happens. There is so much more to living together than simply moving your things into the same house. In order for the arrangement to be successful, you have to make an agreement and stick to it. Relationships are difficult and can get messy, so it is essential that you prepare for difficult times before they become difficult. Having a third party legal expert is an important part of making sure that both sides of the agreement are treated fairly.
