While not the most romantic of topics, prenuptial and cohabitation agreements have become increasingly important for couples planning to marry or live together. No longer only for the rich and famous, prenuptial agreements provide significant benefits for any couple--both for the financial well-being of the individuals and overall well-being of the relationship.
And with the current trend toward cohabitation and away from marriage, cohabitation agreements have become even more important. The common thinking is that cohabitation, rather than marriage, keeps things more simple--especially in the event of a divorce. But the truth is that these types of arrangements still bring about serious legal consequences: property issues, the risk of palimony lawsuits, or custody and child support issues. It is important to consider all of these consequences, and do what planning you can to avoid complications in advance of living together, whether the relationship turns into a marriage or not.