Whether you’ve just had a baby, or have been together forever, the financial side of things can be complicated. You need to plan for your old age and your children’s future, so it is only natural to look at every aspect of your lives and wonder if there are any potential hiccups…
Unmarried Couple Rights
When it comes to unmarried couples, some often wonder if they have any rights as a couple. Many people think that cohabiting with someone means that you automatically inherit certain rights and support if one of you were to die or become ill.
The truth is, however, is that there are no such rules in place and so many couples choose not to formally cohabit with their partners. While it may be a lovely thought, there is so much involved in putting something like this together and what’s more – the only people who would benefit from these arrangements are your children – if you have any.
When You Get Married
The most common way that families protect themselves financially is to get married. This is because in the eyes of the law when you are married, your spouse is responsible for supporting you financially in the case that something happens to one of you.
If they don’t want to marry – there are options available!
If marriage isn’t for them then it’s important not to panic, because there are some excellent alternatives on the market.
Civil Partnerships
For example, there is the option of entering into a civil partnership. So what are civil partnerships? When you are in this kind of arrangement, it will be dedicated to making sure that your partner has someone to care for them financially if they should pass away or become sick.
The difference with these arrangements, however, is that even when you split up your rights remain, that’s why it is important to think about the implications of this kind of arrangement.
What are the pros of civil partnerships?
There are many pros of having a civil partnership in the UK, these include:
– You can enter into a civil partnership at any age
– It’s not just same-sex couples that are able to do this
– There is no need to have lived together before signing up for one of these contracts, however, some agencies may ask you to prove you’re in a serious relationship.
What are the cons?
The main downside is the lack of protection if you were to split up. If you date someone for a few years and then decide that it isn’t working out, it will be like starting from scratch when you decided to get into the relationship in the first place.
Conclusion…
What’s important is that you think about your position and what the implications of different kinds of agreements would mean for you. Sure, marriage might be traditional – but that doesn’t mean it isn’t right for you and your partner.