Bad breaks?
UNMARRIED... SO WHO GETS WHAT IF YOU SPLIT? ASKS TRICIA PHILLIPS
MORE than 2.5 million couples who are living together, but not married, haven’t done anything to safeguard their finances, property or other valuable possessions should they split up.
A third trust their partner will provide for them should they break up, a quarter just haven’t got around to it, while some are too scared to bring up the matter in conversation.
And, worryingly, research from Turbervilles solicitors shows that more than half wrongly believe that at some point during their relationship they will earn the same rights as their married counterparts.
You might hear the term common law marriage, but if you are cohabiting you do not have the same legal rights as a married couple. Being named in your partner’s will gives protection should he or she die but it doesn’t take into account a split if you are both alive.
Kate Ryan, partner and head of family law at Turbervilles, says: “No one likes to focus on the
THE ISSUES
PROBLEMS can arise when one partner is the sole owner of the property, but the other has made regular or ad hoc payments towards the mortgage, or paid out significant sums on refurbishment or a possible extension.
There have been cases where the non-property owner has been involved in large scale construction which meant the property owner has saved tens of thousands of pounds. Yet because the partner was not named on the deeds and no agreement has been split-up scenario, but many more couples living together need to be far more pragmatic, rather than risk having to deal with timely or costly disagreements in court.
“Although it is likely that, at some stage in the future, legislation will be passed so that those living together will be afforded certain rights in line with married couples, there are likely to be caveats and exclusions.
“For the time being, cohabiting couples need to cover everything themselves by putting additional legal agreements in place.” put in place, they have no rights to a slice of the pot when the house is sold.
Other situations can arise when one partner has given up full-time work to bring up children and run the home, and therefore has no source of income should the relationship break down.
Situations arise where the breadwinner or sole provider shirks financial responsibility for their ex partner and the children, refusing to set aside funds for renting or purchasing a property.
There are also custody issues, say where one partner (often the mother who has been the main carer for the children) refuses to give the father access to the kids.
WHAT YOU CAN DO
TO avoid spending time and money on costly disagreements in court if you split up, make sure you get protected and seek legal advice now. A Declaration of Trust will ensure your assets before and during the relationship are noted and that you are not left high and dry should you split. You can set up trusts with the children named as beneficiaries to ensure that future monies or assets go to the children. There are legal documents, such as a Child Arrangement Order, which can be drawn up to specify who has the kids and when in case of separation. If you split up, you can make an application under Schedule 1 of the Children’s Act 1989 for financial assistance from your former partner. It’s good to talk. Find the right time to have an open and honest conversation without being worried whether it will crush your relationship. This will lay the foundations of safeguarding the future, even if you continue to live happily ever after together.