Another important way to protect yourself and your companion is to make sure your will and will are up to date. It should be kept in mind that life partners do not have the right to dispose of assets in the deceased sheds of their respective partners if that partner dies without leaving a will. On the other hand, a person can make any inheritance in relation to a will, and in this way, the cohabiting parties can ensure that their partner is taken care of in the event of death. There are different issues that arise from a relationship of living together that can be problematic given the nature of such a relationship. Some of these questions are as follows: Although the partners in a cohabitation are not without rights and/or recourse, these become very problematic to force, as there is very little legislation or jurisprudence dealing with cohabitation relations. “There may be children in the union. There could be a common debt. There may be insurance policies with both partners as beneficiaries or a common vehicle. An agreement on cohabitation can help mitigate conflicts when it comes to deciding how to resolve these problems. Given the scarcity of cohabitation legislation, several other mechanisms have been put in place to address some of the problems associated with the cohabitation of scenarios. This is our second point.
Marriage is governed by specific laws that protect the individual in the relationship. Unfortunately, cohabitation does not offer such comfort. However, in practice, it is very difficult to prove the existence of a tacit universal partnership if there is no agreement. Parties who maintain their lives can therefore save themselves from severe headaches by ensuring that their agreement is reduced to writing and signing. I will dwell on this point in detail below. These agreements are called “cohabitation agreements.” Such agreements generally contain provisions on finances during the existence of cohabitation and deal with the distribution of assets and assets after their termination. However, if it is not possible to prove a universal partnership, the couple`s private property prior to cohabitation belongs separately to the partners and there is no co-ownership. Property acquired before the relationship is also exempt from all the consequences of the insolvency law.
Since the existence of a universal partnership is difficult to prove, it makes sense to enter into a life partnership agreement. Since neither party grants rights or obligations to cohabitation itself, some savvy parties have successfully asserted claims against their former companions with respect to other statutes. Dippenaar points out that it makes much more sense for a couple to enter into a cohabitation agreement at the beginning of the housing agreement. The contract contains details on a couple`s wealth, wealth and financial contributions from each partner to the common home.