- Cohabiting couples have few legal and financial protections if they split
- Drafting a cohabitation agreement can help couples work out how to approach their finances
Christmas can be a pressure cooker for couples. Every January, family lawyers receive an influx of divorce enquiries as enforced family time and high expectations over the holidays take their toll. However, how a separation affects your finances differs significantly depending on whether you are married or cohabiting.
A common misconception in the UK is that the legal system recognises the concept of a so-called common law spouse. Many unmarried couples believe that if they live together, particularly if they have done so for a long time, or have children together, they will be afforded the same financial protections after a relationship breakdown as married couples. This is not the case.