Love is a many-splendored thing, but it can also blind you to the nitty-gritty money details that pop up when you’re dating. If you decide to cohabit with your sweetheart, there are legal steps you can take to protect yourself. Sure, it takes the romance out of things, but it might be a good idea for some cases.
Cohabitation contracts help immensely in situations like owning joint properties, or if your partner’s debt lands you in hot water with collectors, according to Linda Lea Viken, president of the American Academy of Matrimonial Lawyers. But you might not want to go through the hassle and the expense of legal fees if you’re dealing with minor finance issues, like splitting groceries or cable bills. What’s your take on this—do you think this is a good idea?
Getting married? Read on for more information on prenuptial agreements.