Unmarried couples, particularly those who have been combining finances or who own assets together have the option of being able to designate how their assets are to be divided by way of a contract should the couple break up. Similar to a Prenuptial or Postnuptial Agreement for married couples, unmarried couples can choose to draft a Cohabitation Agreement to change as the parties’ lives become more intertwined through the passage of time or the occurrence of a life events such as the birth of a child or a move to a new state.
Unmarried couples may also be able to benefit from execution of promissory notes or similar documents that memorialize understanding of the parties of the loans and gifts exchanged between them.
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