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Can you protect your assets in a long-term relationship?

It is becoming more and more common for couples to live together before they get married. It allows Missouri couples to get to know one another well and determine if their relationship has a chance to survive in the long run. it has the added benefit of allowing couples to split electricity, gas and cable bills and share vehicles and invest in property together. The big mistake couples make when living together is not considering what will happen to their assets and debts if they do not end up together.

Engaged people are encouraged to enter into prenuptial agreements before getting married as a way to finalize property division should the couple end up divorced but cohabiting people rarely consider coming to an agreement about how to divide the property, assets and debts they have racked up over a number of years.

Entering into a non-marital agreement or a cohabitation agreement is one way cohabiting couples can avoid bitter disputes when a breakup takes place. Similar to a prenup, the couple agrees how to split property each party is coming into the relationship with and how property acquired during the relationship will be divided. Expense sharing can also be divided and dispute resolution mechanism can be agreed upon.

Though an unmarried couple living together does not have the legality and protections that a married couple has, it doesn't mean their breakup won't be just as messy, if not more. Protecting one's financial interests should be everyone's aim, whether they want to do it through a prenuptial agreement or a cohabitation one.

Post Type: Q&A

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Joseph J. Porzenski
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