Whats palimony? Am I risking income or assets living together unmarried?
Yes, you could risk your income or assets by living together without marrying. Palimony is a spousal support substitute (like alimony) for people who are not married. Palimony claims are difficult to prove, but that doesn’t stop some people from trying. Remember actor Lee Marvin? You can read about his living together situation in this case summary. And then you can imagine what he probably paid in attorneys fees to defend these claims. But that’s only half the story: Michelle Triola Marvin also had an attorney who needed to be paid, too. Taken in this perspective, a premarital agreement or cohabitation agreement is a cost-effective way to handle this type of situation. Also, if you have an oral or written contract about how you will own property, share income, assets, debts and so forth, it’s sometimes possible to make a claim that although you were never married that contract law applies, and that property should be divided even if it’s only in one person’s name, or even if only one
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- Whats palimony? Am I risking income or assets living together unmarried?
