Time to put the myth of the common law marriage to bed

Fool.co.uk welcomes the Law Commission’s recommendations to extend legal and financial protection to unmarried couples.

The proposed measures will provide a clear set of compensation rules when couples who live together for at least two years, or who have children, decide to separate.

Currently, around 4 million people are co-habiting in unmarried partnerships compared to 22 million people who are married. According to the Government Actuary’s Department, the number of people living in unmarried partnerships may swell to more than 9 million by 2031. At that time only 20 million people are expected to be married.

David Kuo, Head of Personal Finance at Fool.co.uk, says: “The laws that govern people in unmarried relationships should take into account the changing demographics of British society.

“By 2031, the number of people living together in unmarried relationships could represent almost a third of all partnerships. Clearly, they need a more robust legal framework than the present system that is both complicated and fuzzy.

“The proposals by the Law Commission are undoubtedly controversial, but a common-sense approach to the changing lifestyle of Brits is needed if the myth of common-law marriage is to be put to bed.”

Top tips for co-habiting couples

If you move into your partner’s house make sure you have a joint account for household bills

Make sure you have a joint account for mortgage payments to prove your financial interest in the property

Keep bank statements as evidence of your financial contribution to the home

Keep receipts of things that you have bought jointly

Maintain some financial independence in case things go wrong