A growing number of couples — particularly ones in which one or both members had been married previously — are opting to live together without being married, but are signing what are known as โno-nuptialโ agreements.
A โno-nuptialโ agreement is a legally binding document that dictates what would happen to the coupleโs assets if they broke up. It is sort of like a โpre-nup,โ but without the marriage.
According to a story in the New York Times, more than eight million U.S. couples are co-habitating — living together without marrying.
The story says that most who seek โno-nuptialโ agreements have been through marriage and divorce and donโt want that again.
Such agreements usually concern only property and financial assets and either prevent one member from going after the otherโs assets or provide security for the lower-earning partner.
Relationship experts arenโt all convinced of the value of such agreements. Some say they can be a good thing for the relationship, while others cite concerns.
If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.
