In light of the increasingly dismal economic outlook for the UK economy, it is all the more important for couples to ensure that they have as much financial security and independence as possible, particularly if their relationships end.
Silk Family Law partner Wayne Lynn explained that the myth of ‘common law marriage’ has led to many people believing that they somehow gain legal or financial rights over their partner’s property automatically once they have lived together for a certain length of time. “That is pure fantasy, but regrettably, has led many people to make naïve yet disastrous decisions,” he said.
Given the cost-of-living crisis – high inflation, crippling rents, mortgages becoming more scarce, but with house prices stubbornly high – separation can potentially bring disastrous consequences.However, whilst this may paint a bleak picture, there are ways and means to try to ensure that fairness prevails in the event of separation.