Love is looking and feeling real good. So good, in fact, that you both are also in love with the idea of letting him move in with you. Like the smart clutchette that you are, you’ve weighed the pros and cons, and conclude the pros are many. But before you mark a move-in date on your calendar or put 3 Big Dudes and a Truck on reserve, consider 3 ways to protect what’s yours whether love is up or down.
If you’re coupled-up and considering making your space his space too, you should contract with a cohabitation agreement. A cohabitation agreement is a flexible and legal arrangement between unmarried couples that document agreed upon rights and responsibilities of each party while living together. Cohabitation agreements also spell out who’s responsible for what in the event of a breakup. Some think of cohabitation agreements as the prenup for unmarried couples. While no one wants to think of a breakup when it’s all good at this advanced stage their relationship, breakups do surpass divorce rates, so it’s a good idea to prepare. Ya know, just in case! The good news is in the event of a breakup, a cohabitation agreement goes to work for you by keeping him from laying claim on what’s always been yours, like savings, properties, businesses, etc. that you might have established before he lived with you. You’ll also be protected from having to shell out a dime for debts he incurred before the move-in. There’s nothing like the power of words on paper backed by a signature to protect you! A cohabitation agreement will also uphold mutual agreements you and Boo Thang made together so that his interests, as well as yours, are protected. And since cohabitation agreements are flexible, you can edit them in case new expenses arise, assets are merged or major purchases are made together, like a house or condo. Another plus, cohabitation agreements can be as detailed as you need them to be in order to fit your exact situation.