Why Barbie and Ken want a cohabitation settlement

Behind the stereotypical glamour and allure of Barbie and Ken’s life-style lies a traditionally unconventional relationship. 

Barbie and Ken stay collectively however aren’t married, which means they’re a cohabiting couple – uncommon again within the sixties when the ability couple first acquired collectively.

Barbie is by far the wealthiest of the pair. All through her profitable and diversified profession, she has amassed the Dreamhouse and the traditional automobile, amongst different high-value property, and lives an opulent life-style.

Ken, then again, is the financially weaker companion, with fewer notable property to his identify.

Let’s think about Barbie and Ken finish their relationship as soon as and for all. As cohabitees, what would they should know?

Household Lawyer Filomena Sterkaj explains why Barbie and Ken want a cohabitation settlement.

No joyful ending for Barbie and Ken

Barbie and Ken’s resolution to cohabit implies that not like their married counterparts, they haven’t any normal authorized standing as a pair. In different phrases, they haven’t any authorized safety in the event that they separate or one in all them dies.

Opposite to common perception, there isn’t a such factor as a ‘widespread regulation’ spouse or husband. Neither is there a time period after which single {couples} are robotically entitled to a share of their companion’s property, as some consider.

The dearth of authorized safety for cohabitees, means single {couples} haven’t any authorized rights or obligations in direction of one another which might depart them susceptible.

Who will get the Dreamhouse?

Within the case of Barbie and Ken, Barbie is the only proprietor of the Dreamhouse and her pink Corvette automobile, making these property solely hers. Ought to they resolve to half methods Ken wouldn’t robotically be entitled to a share of Barbie’s property.

Excellent news for Barbie. However what about Ken?

Let’s say Ken had made monetary contributions in direction of the Dreamhouse throughout their relationship, this might probably give rise to proceedings beneath the Trusts of Land and Appointment of Trustees Act (TOLATA).

If Ken can display that he made substantial contributions in direction of the property’s acquisition or mortgage funds, he might need a declare to a portion of the property’s worth.

Whether or not you’re Barbie, or Ken, it’s equally necessary to make clear monetary preparations and property possession from the outset.

How may a Cohabitation Settlement assist?

Whereas not fully glamourous, safeguarding their particular person pursuits now would imply Barbie and Ken may set out their agreed monetary place, keep away from authorized complexities, and each profit from some monetary safety for the long run.

They might be clever to contemplate a Cohabitation Settlement. This can be a contract between single {couples} who stay collectively that establishes clear preparations for funds, property, and different issues that applies throughout their relationship, and within the occasion of a breakup or demise. And supplied it’s drafted and executed correctly by a household lawyer, a cohabitation settlement could be legally binding.

How may Barbie shield her property?

Now, let’s say Barbie and Ken resolve to tie the knot sooner or later, every of their property may then turn out to be matrimonial property. This contains the Dreamhouse and the pink Corvette.

To safeguard her private property and future monetary safety, Barbie might take into account a Prenuptial Settlement earlier than they get married. This Prenup can define how her private property, property and cash will probably be divided in case of divorce, giving her peace of thoughts for the long run, and Ken a transparent understanding earlier than they wed.

The rise in cohabitation

Barbie and Ken’s state of affairs isn’t uncommon within the Actual World, with a reported 24.3% of {couples} within the UK cohabiting.

Because the number of marriages continues to decline, it turns into much more essential for {couples} to grasp their authorized standing and search skilled recommendation to guard their pursuits.

Get in contact

For extra details about cohabitation rights, cohabitation agreements and prenuptial agreements, please do get in contact with our Shopper Care Staff utilizing the main points under or make an internet enquiry.

Helpful hyperlinks

Benefits and drawbacks of cohabitation

Prenups, petnups and postnups: a realistic strategy to marriage

Cohabitation regulation: UK Gov affirm no change in sight