A cohabitation agreement is more important than you think
When you and your partner decide to move in together, a cohabitation agreement may not be the first thing you think of. There are a lot of exciting stuff to plan and fix. And in the midst of it all, a cohabitation agreement might not seem as fun to deal with. Even if that’s true it is a really important agreement for many reasons. And it’s definitely something you should consider setting up.
According to Statistics Sweden, 1.6 million Swedes live as common-law partners. And yet, signing cohabitation agreements is not that common. And this despite the fact that common-law partners don’t have the same legal advantages as married couples. By setting up a cohabitation agreement you make sure to protect and secure your future and your childrens financial security.
How are you protected by a cohabitation agreement?
In 2022, the Supreme Court in Sweden decided that a woman should pay her ex-partner almost SEK 800,000 and just over SEK 100,000 in court costs for an apartment the woman had paid for. The apartment, which was a rental in the beginning, turned in to a condominium one year after the woman and the man had started to live together. The woman, who’s name was already on the lease, bought the condominium and thus owned it herself. When the couple chose to separate in 2017, the man claimed the apartement saying that the apartment was their common property since they had lived there for so long.
You can avoid situations like this more easily with a cohabitation agreement. You can set the agreement up yourself or write it with a lawyer. In the agreement, you should state how you want to keep your property divided. This applies, for example, to properties such as condominiums, houses, cottages and things that you’ve inherited and want to keep as individual property. And also if you want to inherit each other. This is specifically important if you have children. The cohabitation agreement doesn’t have to be registered. Also you can choose whether you write it before or after you move in together.
The pro’s and con’s of a prenup – and why you need one
Prenuptial agreement, an important agreement among married couples
Drawing up a prenup is perhaps the last thing on your mind when planning a wedding and getting married. The word signals divorce which is why most peole push it aside. But a prenup is actually more important than many people think. It’s an important agreement that protects both you, your partner and any children you might have.
A prenup is a written agreement between a married couple. You can write one both before and after you get married – that is, during the marriage. The most important thing is that the agreement is in writing, that both you and your partner sign it and that you register it with the Swedish Tax Agency. This is easiest done with a lawyer who can guide you and make sure that everything is done correctly.
What happens if you don’t write a prenup?
If you don’t have a prenup, your and your partner’s assets are divided in half in the event of a divorce. This also applies to things you inherit and things you create. Do you own anything that has been passed down to you and that you want to keep with you? Or do you want the business you’ve built to pass on to your children or another close relative? Then you need to specify in an agreement that some things that you own should be counted as individual property.
Do you already have a prenuptial agreement that you want to change or update? A prenuptial agreement is relatively straightforward to write for an experienced lawyer. But if you want to make sure that you hire someone with previous experience of prenuptial agreements, then look for a lawyer specialized in family law. Your lawyer can then help by pointing out any obstacles or problems that they have had experience dealing with in prior cases. And together, you can go through the changes and register the agreement with the Swedish Tax Agency again.
Draw up a prenuptial agreement today
You can easily write a prenup right here on our website in just a few minutes. The only thing you need to think about is to register it with the Swedish Tax Agency for it to be valid. You can also choose to write the prenuptial agreement together with our lawyers if you feel insecure and need to consult with a lawyer while writing your prenup. Sometimes you may need to add other legal documents, to make sure that your wish is legally covered. And the easiest way to find out what applies in your case is to simply ask one of our lawyers.
