Are you in an unmarried and committed relationship? If so, a Domestic Partnership Agreement may help you. A Domestic Partnership Agreement may protect both of you, as it provides for basic rights and responsibilities towards each other. This is necessary because both people in an unmarried relationship often have no formal rights or responsibilities to each other Basically, the document lets you each protect one another.
Over the course of a long-term relationship, financial questions will inevitably arise: How will we share our living expenses? Who owns property acquired during our relationship, and how will it be treated? How will we manage our income and personal finances? And what happens if we break up?
A Domestic Partnership Agreement allows a couple to deepen their commitment to each other and come to an understanding about financial goals and expectations as the relationship moves forward.
Essentially, a Domestic Partnership Agreement addresses how the couple will share expenses, income, property, and other responsibilities over the course of their relationship. It can also provide guidance for dividing property and resolving disputes in the event that the relationship ends. The Domestic Partnership Agreement is one of the tools that unmarried couples have for approximating some of the rights and obligations that married couples automatically obtain.