Soaring numbers of unmarried couples signing 'no-nup' agreements to protect their wealth
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The number of unmarried couples signing "no-nup" agreements before they move in together is rising sharply as concerned parents seek to protect family wealth from messy break ups, a London law firm has revealed.
The ''no-nup'' is so-called because it refers to couples who do not intend to marry and so will not use pre-nuptial agreements, the Daily Mail reported.
The written contracts are designed to ensure assets brought into a relationship remain under an individual's control if a couple decides to go their separate ways.
The cohabitation agreements, which are especially popular among the wealthy, are also increasingly being used by couples to iron out areas of potential conflict over issues, such as, who has responsibility for bills and how other financial responsibilities are divided."
Lawyers are also regularly asked to draw up legal agreements to set out what happens to assets if one of them should die.