Understanding Cohabitation Agreements in Illinois
The attorneys at Hoffenberg & Block, LLC are aware of the growing interest and demand for Cohabitation Agreements.
What is a Cohabitation Agreement?
A Cohabitation Agreement is a contract that lays out the legal relationship between two unmarried individuals in a cohabitating relationship. Where a marriage itself provides the contract and the law to enforce certain obligations to respective spouses, the Cohabitation Agreement sets the terms and basis for the unmarried couple’s rights and obligations to each other, and the shared expenses and/or assets that are a part of the relationship.
Who needs a Cohabitation Agreement?
Much like a prenuptial Agreement, it is not necessary for someone to have substantial wealth to qualify for the use of a Cohabitation Agreement.
Such an agreement is useful in any of the following circumstances:
- There will be a shared home owned or rented by one or both of the individuals
- There are minor children and one person is going to be caring for the children while giving up a career
- One of the individuals owns a business
- One of the individuals has a child from a prior relationship
- There needs to be specifics regarding maintaining and managing health insurance and healthcare coverage.
- One individual is going to support the other individual in pursuit of an education to advance his or her career
- One individual has substantial debt
- One individual has or is expecting an inheritance
A proper Cohabitation Agreement addresses joint expenses, maintaining real estate, separating personal property, maintaining joint accounts, what occurs in the event of disability or death, how a partner will be supported in the event a relationship ends, and may even refer to powers of attorney.
The experienced family law attorneys in Chicago at Hoffenberg & Block, LLC can assist you in deciding whether a cohabitation agreement is right for you and your partner, and ensure that any such agreement provides the protection you need based upon the circumstances.
To discuss your cohabitation agreement concerns with an experienced Chicago Cohabitation Agreement Attorney, contact Hoffenberg & Block today at 312-853-8000 or Click Here to schedule a confidential case evaluation.
Question: What is a cohabitation agreement, and how can a Chicago family attorney help me create one?
Answer: A cohabitation agreement is a legal contract between two unmarried people who are living together. The agreement can address a variety of issues, such as property ownership, financial support, and decision-making authority.
A Chicago family attorney can help you create a cohabitation agreement that is fair to both parties and meets your specific needs. The attorney can also advise you on the legal implications of the agreement and help you enforce it if necessary.
Here are some of the specific ways that a Chicago family attorney can help you with a cohabitation agreement:
- Advise you on the law. A lawyer can explain the legal requirements for a cohabitation agreement in Illinois. They can also help you understand the implications of the agreement for your taxes, property ownership, and other matters.
- Draft the agreement. A lawyer can draft a cohabitation agreement that is tailored to your specific needs and circumstances.
- Review the agreement. A lawyer can review the agreement to make sure that it is fair to both parties and that it meets your legal needs.
- Negotiate the agreement. If necessary, a lawyer can help you negotiate the agreement with your partner.
- Enforce the agreement. If your partner breaches the agreement, a lawyer can help you enforce the agreement through the courts.
If you are considering creating a cohabitation agreement, it is important to speak with a Chicago family attorney. An attorney can help you create an agreement that protects your rights and interests.