If you`re living with your partner but aren`t married, you may want to consider a cohabitation agreement. This legal document outlines the rights and responsibilities of both parties in the relationship, and can assist in avoiding disputes later on.
In Wisconsin, a cohabitation agreement is recognized as a legally binding document, provided it meets certain criteria. These include being in writing, signed by both partners, and not against public policy.
A cohabitation agreement can cover a range of issues, including financial arrangements, decision-making processes, and division of property if the relationship ends. For example, it could specify how bills are to be paid, how assets will be divided if the couple separates, and how child custody and support will be handled.
It`s important to note that a cohabitation agreement is not the same as a prenuptial agreement. While a prenup is tied to marriage and is typically used to protect assets in the event of divorce, a cohabitation agreement applies to couples who are not married.
One of the benefits of a cohabitation agreement is that it can provide peace of mind for both partners. By outlining expectations and responsibilities in advance, there is less likelihood of disagreements arising later on. Additionally, a cohabitation agreement can be used as evidence in court if a dispute arises.
If you`re considering a cohabitation agreement, it`s important to consult with a lawyer to ensure that the document is legally binding and covers all necessary issues. An experienced attorney can also help ensure that your agreement is tailored to your specific needs and rights.
In conclusion, if you`re living together in Wisconsin, a cohabitation agreement can be a valuable tool to help ensure that your legal rights are protected. By taking the time to create an agreement that outlines expectations and responsibilities, you can avoid many of the issues that can arise when a relationship ends.