The days are long gone that cohabitation without marriage was a scandalous, immoral proposition. Data compiled by the U.S. Census Bureau reveals that more heterosexual and same-sex couples choose to enjoy unmarried relationships than ever before, with 13 and 30 percent increases in the respective groups from 2009-10. However, even as cohabitation becomes more mainstream, these relationships aren’t immune to conflict. As such, it’s just as important to plan for a break-up as it is for engaged couples to consider prenuptial agreements.
Cohabitation agreements are a somewhat emerging legal area, but – at their core – they’re very similar to prenups. It’s wise to rely on a Chicago Cohabitation Agreement Attorney for advice and assistance in drafting the paperwork. Some general information on the basics may also be useful.
Default Rules Regarding Unmarried Couples
It may be difficult to hear when you realize how the law works, but individuals who are cohabitating are treated very much the same as roommates. Your relationship isn’t recognized as a marriage. Neither person has any right to the other’s property or income, regardless of what he/she may have given up in terms of a job, business opportunities, or educational advancement.
Plus, unmarried couples need to understand the applicable laws for joint property and financial obligations. Examples include:
- Bank accounts in which you’re both signatories;
- Your home and its mortgage;
- Any vehicles and associated loans; and,
- Space for which you’ve both signed a lease.
A bank, lender, or landlord isn’t concerned about disputes between you and your partner if you are both named on the asset or debt. As far as these organizations are concerned, you’re both owners with control over the asset. You’re also both liable for underlying debts.
Establishing Rights Through a Cohabitation Agreement
You can avoid the harsh application of these default rules by designating each individual’s rights and responsibilities by contract. Illinois divorce statutes may not apply, but common law contractual concepts can protect both partners. Through a cohabitation agreement, you can:
- Designate specific assets as separate or joint;
- Assign certain debts to the individual who should rightfully carry the financial obligation;
- Determine how to handle joint assets and debts if you break up;
- Decide who will remain in possession of an apartment or other property you share; and,
- Many other factors allowed by statutory and common law regarding contracts.
Special Considerations Regarding Cohabitation Agreements
It’s important to note the key aspect of your relationship that you cannot determine by contract, which is the care and support of the minor children you share. Illinois law requires these issues to be determined according to the laws on allocation of parental responsibilities and parenting time – familiarly known as custody and visitation, respectively. The best interests of the child standard apply, which you cannot vary by agreement.
Discuss Your Circumstances with a Chicago Cohabitation Agreement Attorney
If you’re currently involved in a long-term unmarried relationship, this information may help you understand the benefits of executing a cohabitation agreement. For additional details on your specific situation, please contact Michael C. Craven. You can schedule a consultation at our Chicago office by calling (312) 621-5234 or visiting us online.
