OUR LATEST ISSUE
You've found the love of your life and now want to enter a Civil Partnership. Lawyers Irwin Mitchell offer a few top tips for a smooth relationship
Most arguments in relationships are about money
Top tips for civil partners and cohabiting couples
1. TALK and keep on talking to your partner
Misunderstandings are easy unless you talk to one another about everything. If you agree something to do with your home or assets, make a note of that agreement in writing and then seek legal advice. For example, if you agree to transfer your home into joint names with your partner, a formal transfer document will have to be signed and recorded with the Land Registry. You may also need the agreement of your mortgage lender if you have a mortgage. Your solicitor will be able to advise you on how to do things properly.
2. Agree the financial arrangements
If you are about to enter a Civil Partnership, congratulations! But whilst making arrangements for the ceremony and reception, make time to sit down and agree with your partner who will pay for what in your future lives together. For example:-
- will you open a joint account?
- will both salaries be paid into the account or will each of you pay a set amount?
- what expenses will be paid from the joint account?
- if you are having separate bank accounts, who will pay the mortgage/rent, gas, electricity, telephone bill and council tax?
Make a list of all expenses both of you pay out. Include the cost of having a social life, holidays and hobbies. Then record in writing who will pay for what. This will save arguments in future. Most arguments in relationships are about money.
3. Consider a Pre Partnership Agreement
You can have the financial agreement recorded in a Pre Partnership Agreement or a Post Partnership Agreement if necessary.
These agreements are very useful if either of you want to protect assets or income in the event the partnership breaks down.
Under the current law a court will not automatically enforce the terms of a Pre Partnership Agreement if the partnership is later dissolved. However, it will take it into account and can heavily influence a court’s decision.
If you are cohabiting before entering a Civil Partnership, you can have the agreement recorded in a Cohabitation Agreement. The agreement can also cover things like rights to the home, or rights to other assets.
4. Make a Will and consider tax advice
Even if you are cohabiting instead of entering a Civil Partnership, consider making a Will if you want your partner to share your estate if you die.
If you enter a Civil Partnership then die without leaving a Will, your Civil Partner will receive part of your estate under Intestacy Laws. The amount they receive will depend on how much your estate is worth. If you want to make sure you have control on how much or which part of your estate your Civil Partner receives, you should make a Will.
Rights under Intestacy Law only apply to couples who have entered a Civil Partnership and do not apply to cohabiting couples.
As a general rule, MAKE A WILL after taking advice from a specialist Will solicitor. Making a Will can also help save Inheritance Tax in some cases.
If you have children, it is even more important to make a Will. In your Will you can nominate who will care for the children if you die and you can also make financial arrangements for the children.
A Civil Partnership can have tax advantages. For example transfers of assets between Civil Partners are exempt from Capital Gains Tax. Seek advice from your Tax Advisor on how this will benefit you.
5. Accept no one is perfect
Do not have unreasonable expectations of your partner. Everyone has their faults and those faults help mould our personalities. If something about your partner begins to annoy you, sit down with them and discuss how things can improve. It may be you that needs to alter your perception or expectations rather than your partner changing their behaviour. Consider attending couples counselling. Details of counselling services can be found in your local phone directory.
6. If it all goes wrong keep calm and carry on
Hopefully you and your partner will live happily ever after. But if the partnership breaks down for whatever reason, do not let your anger make things any worse. Emotions are very hard to handle but try to stay calm and think logically about how you and your partner will separate. Take legal advice from a specialist family law solicitor whether you are cohabiting or you have entered a Civil Partnership.
You may be able to save the relationship with the assistance of counselling but if not, you may be able to stay friends.
If there are children involved, this is even more important. Children need to be protected from the anger and hurt caused by a failing relationship. So no matter what your feelings are towards your partner, never use children as weapons against your partner.
For more information please visit the Irwin Mitchell website
or ring 0800 028 3458
