Moving In Together? It May Be Time to Talk About More Than the Furniture

Moving in together is an exciting step.

There’s the new home, the furniture, the bills, and all the everyday decisions that come with creating a life under one roof.

There’s another conversation that is easy to overlook:

What are our financial expectations?

Perhaps one of you already owns the property. One of you may be contributing considerably more towards the deposit or mortgage. You may simply have different expectations about what will be shared and what will remain separate.

These arrangements can feel straightforward when you are planning a future together, but from my experience as a family lawyer, it is sensible to make sure you both understand what those financial arrangements actually mean.

A cohabitation agreement gives you a framework for doing exactly that.

What Can a Cohabitation Agreement Cover?

A cohabitation agreement is a written agreement between two people who live together, or are planning to. It can clearly record how you intend to manage your finances, property and other practical arrangements.

Depending on your circumstances, it can cover matters such as:

• Who owns the property and in what shares

• How mortgage payments and household expenses will be managed

• How different financial contributions are being treated

• Ownership of savings, possessions and jointly used items

• What should happen to the property if your circumstances change

For example, if one person has contributed substantially more towards a deposit, putting your intentions in writing can help ensure you both understand how that contribution is intended to be treated.

When Should You Consider One?

A cohabitation agreement can be put in place before you move in together or at any stage afterwards.

If you are buying a property together, it can be particularly helpful to discuss your respective contributions and expectations before the purchase is completed. If one partner already owns the home, an agreement can also provide clarity about what each of you understands your financial position to be.

In my experience, one of the most valuable parts of the process is having those discussions openly and making sure that assumptions do not take the place of a clear agreement.

Moving in together is an important step. Taking time to understand the financial arrangements supporting that decision can give you both greater clarity from the outset. A cohabitation agreement isn’t about doubting the future you’re building.

Are you planning to live together and considering how best to structure your financial arrangements? Elizabeth Stocker is a consultant solicitor specialising in family law and cohabitation agreements. She can help you understand your options and put the appropriate framework in place.

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