Cohabitating couples are the fastest growing family type, but legal agreements between these couples are less common.
A Cohabitation Agreement (or a Living Together Agreement) details how you and your partner will manage financial matters. It could include how much you each agree to pay for rent, a mortgage and bills, and who owns/keeps which assets if you were to separate. While it might seem pessimistic to prepare for the worst, having an agreement in place can strengthen a relationship and help both partners feel secure. It also avoids additional emotional strain if the worst does happen.