Understanding the importance of executing legal documents in a timely manner is important to the personal and business affairs of everyone. Failing to make such agreements – whether in a personal capacity or business capacity – often creates uncertainty in the form of major disruption, inconvenience, financial revocation at-risk, and other unforeseen adverse issues that must be dealt with. Planning is essential to the things that we do, and it is important to make strategic decisions and resolve issues concerning a partner/cohabitant relationship before issues arise. Failing to make a decision about the property to which each person is entitled can create uncertainty as to the fate of such property should the relationship end. Cohabitation agreements are similar to drug studies. For instance: Cohabitation agreements are designed to minimize risk. Failing to strategize an outcome and create a plan to get to that outcome can result in a dispute with your partner/cohabitant. Cohabitation agreements can minimize risk and ensure that individual needs are met. A well-made cohabitation agreement will insure that issues are not left up for debate after a cohabitation relationship ends, for example.
A growing number of couples are choosing to live together without a marriage certificate. There are many reasons why people choose to cohabit rather than enter into a state-sanctioned marriage. Living together can be more convenient and cost-effective, and it can remove the fear of divorce if the relationship happens to falter. However, people who live together may also be under the impression that cohabitation is a free ride, and that even if they were to break up, they would lose nothing. It is important for those who are considering cohabitation or who are already living together to enter into a cohabitation agreement in Georgia in order to protect their property and finances. A cohabitation agreement is similar to a prenuptial or a postnuptial agreement, even though living together does not involve the same legal requirements as a true marriage. Cohabitation agreements exist to keep partners and cohabitants in agreement about what to do with joint assets in the event of a separation or divorce. Cohabitation can be useful for the following reasons: Any individual who considers entering into a cohabitation agreement should consult with the family law attorneys at our Atlanta, Georgia practice. We can help you design your cohabitation agreement according to your specific needs and desires. In short: If you are living together in Georgia without having married, you need a cohabitation agreement to give yourself peace of mind and to protect you in the event that your relationship ends.