Hypothetical Delimma

[MercuryJones]

I've got to agree with some of the previous posters; if the couple has been together for awhile, 3+ years and are PRACTICALLY a married couple, then their income is likely in a shared account.

It depends on the couple. Even some married couples keep separate finances and have prenuptial agreements about what will happen in the event of a split.

Without some explicit agreement, every couple takes its chances on what will happen in the event that they split up later. Once you're terminating the relationship, legally you may be considered more married than you ever thought you were -- or you may be less so.

 

[BabiGayPimp]

It seems to me that with the benefit of marriage or domestic partnership, they are basically friends rooming together and have to pursue whatever legal contracts allow friends to own property together if that is the wish.

 

[jasoncrew03]

In my opinion? The other one isn't entitled in the slightest unless the couple is married or in a legal domestic partnership.

 

[maxpowr9]

Being a financier, the right answer is "it depends". Especially if one partner is "loaded" and the other partner has few assets, I would not cosign it at all. The winfall the lesser income has to gain in a divorce is far too much from cosigning. Sounds bad but it's true.

As much as I would like to think relationships/marriage is about sharing, finances should be kept seperate. I'm not saying you can split bills and stuff like that but for the actual owner of an entity, choose 1 person. The only thing I would consider sharing financially is a bank account.

 

[Under-taken]

Sounds like Prenup!