For most couples, moving in together is an exciting time and it’s often the start of a much closer relationship between two people.

Living together as a couple – cohabitation - means taking on new responsibilities And although no one likes to think about splitting up – especially if you’re just thinking about moving in together – it is good to know what your rights are as an individual.  For many couples, this process helps them understand their commitment to each other, and see how important the decision to live together really is.

In addition, living together doesn’t automatically grant rights to one partner over the other’s property or possessions.  If your partner owns the property that you’re moving into, then you can be asked to leave at any time.  You won’t be entitled to any sale proceeds, unless you can prove that you contributed to the mortgage or made a significant financial commitment to household expenses.  And you won’t inherit any part of partner’s estate unless he or she has made that provision in a valid Will.

Financially, it’s worth getting advice from an independent financial adviser (IFA) if you’re moving in with a partner.  An IFA can give you both advice on investments, pension arrangements, and tax-efficient ways to manage your individual and mutual savings.

Questions you might like to ask an IFA…

Is it best to keep our financial affairs separate?

Could we benefit in any way from setting up joint accounts?

Will our tax position be affected if we’re living together but not married?