Financial arrangements for cohabiting. How can I stay safe

[ColdFeetinWinter]

Past history of financially feckless ex and being dragged down with him. I'm now in full time work, financially solvent, own house with healthy equity and mortgage. I love the security of being in control of my finances.

I've been in a relationship for a few years and we plan to live together. He would move in with me. He has his own property and more equity than me. Plan would be for him to keep his own house and rent it out. We can't move into his property as its in a different county and schools, work etc won't work.

When he moves in we need to agree how we fund our joint living and he has suggested a joint account for household expenses which we both pay into. I'm happy with this but want to make sure my house doesn't become part of his just because he lives in it.

Do I still retain my independence? Do I need some legal document outlining the "no intention to share belongings in the event of a breakup" We both have children and wish to retain financial independence. If either dies we would be financially severed and our children immediately inherit

So romantic... We do want to live together but we don't wish to hand over our life savings to each other basically.

Any advice?

I can't remember the name of the document but my dp and I had a solicitor draw something up for us when we first moved in together which set out who was putting in what, how things would be split in the event of breakup or death of either party and we agreed it would be null and void if we got married or had children.

It's not romantic but it's sensible, particularly if you both have dc and equity earned prior to your relationship, and it takes away any worries for both of you so you can just concentrate on the fun stuff. Think it cost around £200 but there are cheaper forms you can download online and both sign but not sure how watertight they would be should you need to use them.

We had something called a declaration of trust drawn up by our solicitor when we bought our house together. It's a bit like a pre nap but without the nuptials

You need a cohabitation agreement, rather than a deed of trust. Family solicitors do them. You need a solicitor each, and it will protect his property as well as yours.

Thank you. Really thank you. It's been a little niggle and I wanted to get advice on whether I'm being daft to suggest it but now I will