Jersey City Palimony and Cohabitation Agreements
Ensuring Your Financial Security & Peace of Mind
There have been changes to New Jersey law that affect the ability to file palimony claims.
What Is Palimony in New Jersey?
Palimony is the financial support that is awarded to a person after a long-term relationship ends where the parties were not married.
New Jersey does not recognize common law marriages. Palimony can only be awarded if there was a written agreement, signed by both parties, stating that palimony would be awarded in the event of a breakup.
Do changes to NJ palimony law affect your future? Call (201) 561-8441 to find out!
Drafting Your Palimony Agreements
The palimony or cohabitation agreement allows couples to decide how they want to share the responsibilities of their lives together and what will happen in the event of a breakup, similar to a prenuptial agreement for married couples.
Issues that can be clarified in the written agreement include:
- Financial support provided by one party to another in case the relationship ends
- Division of assets and debts
- Ownership rights in shared property
- Custody and visitation arrangements for children
- Pet custody and care for shared pets
If you feel that your relationship would benefit from a written agreement, it is important to discuss the issue with your partner and contact a Jersey City palimony agreements lawyer for advice without a written agreement, that complies with the law, you may be left with no support or assets even after a long-term relationship.
Why Do You Need a Cohabitation Agreement?
Whether you are aware of this or not, living together with someone causes your finances to become intertwined. This becomes especially true if you purchase or rent any property together. Terms must be fleshed out onto legal documents in order to maintain the verbal agreements you two have made. Cohabitation agreements also help sort out issues if both parties decide to separate and move out. There are many aspects that will need the help of both the written agreement and an experienced lawyer.
How Long Must You Live Together To Receive Palimony?
Successful claims for palimony involve partners with different income levels who have resided together for many years. One of the parties must have promised to support the other financially for a period of many years, sometimes even for life.
Because of the new statute of frauds provision, there must be some form of written agreement for the promise of support. The agreement must be signed by the person who promised to pay, and both parties must have had the advice of separate lawyers.
Prepare for any possibility in the future. Call (201) 561-8441 to have an attorney help you prepare a palimony agreement.