If you’re starting out in a relationship, moving in together with your partner or getting married, there are a few legal aspects you should consider to ensure you have planned for the future.
‘Legal To Do List’
1. Make a Cohabitation or Pre-Marriage Agreement
Although it may feel as though you are planning for your relationship to fail, making an agreement when you enter a new relationship or marriage is a good idea. It allows you and your partner to agree what each of you is bringing into the relationship (assets) and how any assets would be divided should the relationship end. It can also include details of who will support and look after any children from the relationship.
2. Protect your Interest in your Home
If purchasing a property with your partner, it is important to think about how the property will be owned. You and your partner can be ‘joint tenants’ where you own the property as a single owner or ‘tenants in common’ where you both own a specific share of the property value. This distinction is particularly important if you are wanting to leave your share to a beneficiary in your Will rather than it passing to the other owner ie. your partner.
3. Make a Will or Update your Existing Will
When starting a new relationship or getting married it is important to make a Will or update your existing Will to ensure that your wishes will be carried out and that those you want to benefit from your Will will do so.Request a Callback
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