With rights for gay and lesbian couples at the forefront of civil rights discussions across the United States, same-sex unions have been legalized in many of the fifty states. In Colorado, same-sex civil unions have been legal since 2013, and same-sex marriage was legalized in 2014. While this has presented a previously denied opportunity, many couples — both same-sex and not — appear to be abstaining from marriage altogether. When a couple chooses living together over marriage, cohabitation agreements can protect both parties’ interests in the event of a divorce.
Before marrying, many couples consider entering into a prenuptial agreement to protect certain assets or to prevent issues in a potential divorce. For those who are delaying marriage or who do not intend to marry at all, similar protection can be found through a cohabitation agreement. While the name is different, it generally serves the same purpose.
For example, if a vehicle was purchased by one individual, but his or her partner is the main driver, a cohabitation agreement can clarify who will be entitled to the vehicle in the event of a separation. Property or assets that were purchased jointly can also be included, such as a home or even a washing machine. While these types of agreements are a good idea for anyone choosing to cohabitate, if there is a child involved, from the current relationship or a previous one, these types of agreements can be invaluable for protecting the most vulnerable individuals involved.
While it is understandable that no couple, same-sex or otherwise, wants to consider the end of a relationship, a cohabitation agreement can provide much-needed protection in the event of a split. Regardless of the value of your assets or the amount of property you own in Colorado, our attorneys can assist you with ensuring that your best interests are protected in the event of a breakup. We have more information located on our website if you wish to determine if a cohabitation agreement is right for your situation.