Le
sbian and gay clients forming a domestic partnership should consider creating a Partnership Agreement. This agreement has similarities with both a marriage contract and a prenuptial agreement.
Like a marriage contract, a partnership agreement identifies the property that the couple intend to hold jointly, as well as separately. This simple declaration can avoid disputes or confusion that may arise later, especially if one of them dies without a Will, or the Will left a certain percentage of the estate to his family of origin. (A partnership agreement, however, is not a substitute for a Will.)
Like a prenuptial agreement, a partnership agreement allows the couple to make decisions about how they would divide their property, if they decided to end their partnership. While this may seem like a negative endeavor, couples who create a partnership agreement do so with love and concern for their partner's well-being. While both partners hope they will not need to rely on the agreement, the process allows them to make decisions with only the best intentions.
Without a partnership agreement, clients often find themselves in a nightmare of litigation, in front of unfriendly or unsympathetic judges, and with mounting legal bills.