Why Barbie and Ken want a cohabitation settlement

Behind the stereotypical glamour and appeal of Barbie and Ken’s way of life lies a traditionally unconventional relationship. 

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

Barbie is by far the wealthiest of the pair. All through her profitable and different profession, she has amassed the Dreamhouse and the traditional automotive, amongst different high-value belongings, and lives an expensive way of life.

Ken, alternatively, is the financially weaker companion, with fewer notable belongings to his title.

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 blissful ending for Barbie and Ken

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

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

The dearth of authorized safety for cohabitees, means single {couples} don’t have any authorized rights or duties in direction of one another which may depart them susceptible.

Who will get the Dreamhouse?

Within the case of Barbie and Ken, Barbie is the only real proprietor of the Dreamhouse and her pink Corvette automotive, making these belongings solely hers. Ought to they determine to half methods Ken wouldn’t mechanically be entitled to a share of Barbie’s belongings.

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 doubtlessly give rise to proceedings beneath the Trusts of Land and Appointment of Trustees Act (TOLATA).

If Ken can exhibit 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 might a Cohabitation Settlement assist?

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

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

How might Barbie shield her belongings?

Now, let’s say Barbie and Ken determine to tie the knot at some point, every of their belongings might then change into matrimonial belongings. This contains the Dreamhouse and the pink Corvette.

To safeguard her private belongings and future monetary safety, Barbie might think about a Prenuptial Settlement earlier than they get married. This Prenup can define how her private belongings, property and cash will likely 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 scenario 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 know 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 Consumer Care Workforce utilizing the main points under or make a web based enquiry.

Helpful hyperlinks

Benefits and downsides of cohabitation

Prenups, petnups and postnups: a practical strategy to marriage

Cohabitation regulation: UK Gov verify no change in sight