Overview

This bill aims to provide legal protections for cohabiting couples in England and Wales, covering financial arrangements upon separation or death, and insurance rights. It establishes a framework of rights and responsibilities not currently covered by common law.

Description

The bill defines "cohabitant" as two people living together as a couple who are not married or civil partners, and who meet specific conditions (parental responsibility for a child, a joint residence order, or two years of continuous cohabitation). It outlines "financial settlement orders" available to former cohabitants within two years of separation (or with exceptional circumstances), covering lump sums, periodical payments, property transfers, and pension sharing. The bill also considers the welfare of any children involved. Cohabitants can opt out of this system through a legally binding agreement, which must meet specific requirements including independent legal advice. The bill also addresses insurable interest between cohabitants, death registration procedures, and amendments to existing laws regarding inheritance and bereavement damages for surviving cohabitants.

Key Aspects:

• Financial Settlement Orders: Provides a legal framework for dividing assets and providing financial support after separation.
• Opt-out Agreements: Allows couples to choose not to be covered by the bill's financial provisions.
• Insurance: Clarifies insurable interest for cohabitants and protects beneficiaries.
• Inheritance and Bereavement: Amends existing laws to extend rights to cohabiting partners upon death.

Government Spending

The bill doesn't directly specify government spending figures. However, it is likely to increase court costs associated with applications for financial settlement orders and related legal processes. There may also be administrative costs associated with implementing the new legislation.

Groups Affected

The bill primarily affects:

• Cohabiting couples: Provides legal rights and responsibilities regarding finances and property upon separation or death.
• Children of cohabiting couples: Their welfare is a primary consideration in financial settlement orders.
• Solicitors and Barristers: Increased demand for legal advice and representation.
• Courts: Increased caseload related to financial settlement orders.

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