Cohabitation Agreement on Death

Cohabitation Agreement on Death: Ensuring Your Partner is Protected

Couples who choose to live together without getting married often face unique legal challenges. Unlike married couples, cohabiting partners do not have automatic rights to each other`s property or inheritance in the event of one partner`s death. That`s why it`s important for cohabiting couples to establish a cohabitation agreement, and to ensure that this agreement includes provisions for what will happen in the event of one partner`s death.

A cohabitation agreement is a legally binding contract that details the rights and responsibilities of each partner. It can cover a wide range of issues, such as how property will be divided in the event of a breakup, how financial obligations will be split, and what will happen to jointly owned property if one partner dies.

When it comes to the death of a cohabiting partner, a cohabitation agreement can be especially important. Without proper planning, the surviving partner may be left without any legal claim to their deceased partner`s assets, including property, savings, and investments.

To ensure that your cohabitation agreement provides for your partner in the event of your death, it`s important to include provisions such as:

– A provision stating that the surviving partner will inherit your share of any jointly owned property.

– A provision stating that the surviving partner will be entitled to a portion of your savings and investments.

– A provision stating that the surviving partner will be named as the beneficiary on any life insurance policies or retirement accounts.

It`s important to note that a cohabitation agreement is not a substitute for a will. While a cohabitation agreement can help ensure that your surviving partner is protected, it does not cover all of the same issues as a will. It`s important to consult with an attorney to ensure that your estate planning is comprehensive and covers all of your needs.

In addition to a cohabitation agreement and a will, there are other steps that cohabiting couples can take to ensure that their partner is protected in the event of their death:

– Designate your partner as your healthcare proxy and power of attorney: This will give your partner the legal authority to make decisions on your behalf if you become incapacitated or unable to make decisions for yourself.

– Consider joint ownership of property: Joint ownership can ensure that your partner automatically inherits your share of jointly owned property.

– Update beneficiary designations: Make sure that your partner is named as the beneficiary on any life insurance policies, retirement accounts, and other financial accounts.

In conclusion, a cohabitation agreement is an important tool for cohabiting couples to protect themselves and their partners. By including provisions for what will happen in the event of one partner`s death, cohabiting couples can ensure that their partner is protected and provided for. However, it`s important to consult with an attorney to ensure that your estate planning is comprehensive and covers all of your needs.