Fixed Term Contracts Possible for Living Together
Fixed term contracts could be the answer for some people looking to secure their future, claims leading family law experts.
Agreements lasting for up to a decade have been discussed in the national press, leading to speculation that people may be tempted to use this as legal protection for their future status, says James England of Nottingham Family Law.
“We read with interest that in Australia and the US these fixed term contracts have been muted as a solution to the divorce rate, and with around 1 in 3 marriages failing here in the UK, it stands to reason that some will embrace the idea, added James.
“It may be that many turn their backs on marriage and consider instead entering into ten-year contracts whereby they re-evaluate their commitments as the milestone and contractual period ends.”
James comments, “Some will be horrified at such a suggestion, but in an era where many people live together in different ways, it is inevitable that some will see this as a common sense approach.”
The debate has been fuelled by The Independent who ran a story about the contractual concept just before Christmas.
It comes as Family Law Solicitors deal with their busiest time, with the start of a New Year traditionally seeing a surge of new divorce cases.
“It’s common to see at this time of year some people looking to carve a new life for themselves,” James added. “Those in unsatisfactory marriages often see Christmas as the final straw, where they look for a new path in life,”
Both parties in a relationship should always do their utmost to ensure they are legally protected if the relationship breaks down.
“Relationships are increasingly complex, so thoughts around money, children and other matters should be considered by everyone entering a new relationship to ensure the future happiness of everyone in what can sometimes be an uncertain future,” concluded James.