Domestic Partnership Law
Property Settlement Agreements
Domestic partnership law is designed to help couples determine their division of property following a break-up. In some domestic partnerships, couples keep all their finances and belongings separate, while others purchase items such as furniture together. Many couples think keeping their property and finances separate will protect them from any conflicts over assets. Unfortunately, this is not always the case.
In the event that you and your partner do not already have a domestic partnership agreement that addresses how property will be distributed upon the dissolution of your domestic partnership, the best way to avoid misunderstandings and/or costly legal battles is to execute a written property settlement agreement that clearly defines how property will be owned, transferred, valued and distributed under certain circumstances.
Contact us at 919-783-9669 today to discover how we can help with your domestic partnership law questions and partnership agreements.
The benefits of creating a legal domestic partnership agreement include:
- Cost— Drafting a domestic partnership agreement through a lawyer is significantly less expensive than going through litigation following a break-up.
- Time— If a domestic partnership agreement is in place, the couple can avoid the long, time-consuming and often complex court trial process.
- Flexibility— With this type of agreement, both partners have the opportunity and freedom to negotiate each issue and piece of property or asset and find solutions both sides can agree to. By drafting this agreement proactively, each partner can specify conditions unique to the relationship, which a judge cannot do.
Domestic partnership agreements should be drafted by attorney with experience in domestic partnership law. The lawyers at Haas & Associates, P.A. can prepare the agreement for you. They can also review an agreement previously drafted by someone else. When meeting with an attorney to review the agreement, both parties can modify it as long as both parties agree.