Cohabitation agreements, also known as living together agreements, are becoming increasingly popular among unmarried couples who are in a long-term relationship but not interested in getting married. These agreements outline the terms of living together, including financial arrangements and how the couple will handle shared assets and debts. While the cost of a cohabitation agreement can vary depending on several factors, there are some general guidelines you can follow.
The price of a cohabitation agreement can depend on the complexity of the agreement and the expertise of the attorney drafting it. Some agreements may be fairly straightforward, while others may require a more complex approach. The cost can also vary depending on your location, with larger cities typically charging more for legal services.
On average, a basic cohabitation agreement can cost anywhere from $500 to $1,000, while a more complex agreement can run up to $2,500 or more. However, it’s important to note that these are just general estimates, and the cost can vary depending on your specific situation.
When choosing an attorney to help you draft a cohabitation agreement, it’s important to find someone who has experience with this type of agreement. Look for an attorney who specializes in family law or estate planning, as they will have the most relevant experience. You may also want to consider meeting with several attorneys to compare prices and see who you feel most comfortable working with.
In addition to legal fees, there may be other costs associated with drafting a cohabitation agreement. For example, if you and your partner have extensive assets or debts, you may need to hire an appraiser or financial professional to help you determine the value of these assets and how they should be allocated in the agreement.
While the cost of a cohabitation agreement may seem high, it’s important to remember that this agreement can protect both you and your partner in the event of a breakup or other unforeseen events. Without a cohabitation agreement, it can be difficult to determine how shared assets and debts should be divided, which can lead to lengthy and expensive legal battles.
Overall, the cost of a cohabitation agreement can vary depending on several factors, but it’s important to find an attorney who has experience drafting these types of agreements and who you feel comfortable working with. In the long run, investing in a cohabitation agreement can provide peace of mind and protect your interests.