There are over 3 million couples cohabiting in the UK - many have no formal cohabitation agreement in place. This week Resolution, have launched Cohabitation Awareness week, running from 25th to 29th November providing, information to couples who are not married and living together.
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You may have already started your preparations for Christmas with Christmas shopping and festivity preparation. In the midst of the festivities have you communicated to your children what is happening over Christmas?
For many years, lawyers have advised their clients that there was no point in drawing up prenuptial agreements before the couple married or agreements to regulate their finances after they married. This was because divorce courts would not be bound by them.
When parties divorce and the Courts become involved in resolving financial disputes, they can order that one party to the marriage pays the other spousal maintenance for a period of time, via a Periodical Payments Order (PPO).
Prenuptial agreements may have been tarnished by association with lurid cases involving the rich, glamorous and non-too-admirable but the UK divorce rate, the increasingly complex families created by second or subsequent marriages and the rising asset base of UK home owners means they are becoming more and more sought after.
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