With Only 51% of People Getting Married Cohabitation Agreements are Important

As times change, so too do the attitudes concerning marriage and cohabitation. One study shows that only 51% of people are now getting married, a figure that has declined over the past few decades. There are several possible reasons for this decline, although none have been confirmed. Despite more people deciding to cohabitate, or live together without getting married, there are not always laws to protect individuals in these situations. Unlike married couples who have certain rights during their marriage and after, couples who simply live together are not always protected by the laws of their states. Therefore, if you are considering cohabitation but do not have plans to marry, you may want to consider having a cohabitation agreement drawn up.

Just like a prenuptial agreement, a cohabitation agreement focuses mainly on finances and assets. This can be important to someone who owns a business, has children from a previous relationship, or has significant possessions. Even though you may never get married, there may be a time when you separate from your partner and you want to lay claim to certain items/assets. In these cases, having a cohabitation agreement can be viable. To learn more about marital contracts in the state of North Carolina and how they may be beneficial to you, contact the Hopper Law Firm PLLC now to receive information and answers from an experienced Raleigh family lawyer from our team.