C
A Mather Incorporated
Living together
Many people may decide not to get
married even though they can legally do so. (Our law now allows for same sex marriages).
Whatever the reason there are very important things to consider. Here are a few
examples.
A breakdown in the relationship.
Having lived together for some time you have accumulated assets together, maybe even
bought a house registered in either one or both parties names.TRUSTS are
a way out for your partner - remember to discuss this with your lawyer to ensure
that you have share of trust assets. What happens then? In our view it is of
utmost importance to have what we refer to as a cohabitation agreement. This could prevent
a long and expensive legal battle.
Death
Either party may have dependants from a previous relationship, surviving
parents, children or siblings.The deceased partner may have wanted to leave
everything to his or her lover. If there is no will providing for this the survivor will
inherit nothing. For example, if you have bought a house together, and there is no will or
cohabitation agreement, the deceased's family will be entitled to claim at least half,
maybe even the whole value of the house. Make sure you both have a valid will and a
cohabitation agreement..
A "Living Will"
What if one or either party becomes terminally ill or needs medical attention and is not
in a state to authorise the medical folk to take the action required? Family can
interfere. Using this document possibly incorporating a power of attorney the wishes of
the incapacitated partner may be given effect to by the healthy partner.
We urge you to consult your
attorney. It could save you much heartache and money in the future.
|