To answer your point, I believe you could very much be exposed financially. My view is based on a convo with my family lawyers a few years back as I sought advice on cohabiting / marriage. and what agreements could be drawn up to protect respective assets etc. Their strong advice based on current Uk law was to not marry and to cohabit only with a very strong agreement that set out ‘terms’ of cohabitation. Any big change of circumstances post that agreement (so a joint baby/ step children coming to live FT), could undermine the agreement in the event of a separation. But the longer the co-habitation. The more chances of it being disputed in the event of separation/ death.
The things they bought up were; contributions towards living/ mortgage. Role of spouse/ partner. So if you are a high earner/ working away - and a partner / spouse can prove that they helped with house/ children and enabled your higher earnings - a judge would look at that. Housing/ provision/ schooling of children. If it can be deemed that your earnings housed/ fed/ clothed and provided for these children, in effect, you have set a financial precedent that a court could very easily rule you need to continue to provide for. This is highly unlikely in an EOW set up but much more likely in a FT set up. It can get very very very messy.
The laws in this country need to be tightened up, substantially. As based on the current laws. I would not co-habit full time, and I would only marry in the event that a clear agreement was hammered out showing that my partner needs to retain a separate home to me and provide for his children separately.
Now the area I could not get an bottom out satisfactorily (and this will make any remaining brain cells in some posters brains) is what would I then do in the event that something happened to my partner (illness etc) that he could no longer work/ pay for a separate home - where would that leave me? Especially let’s argue if he is a 50/50 set up.
Would I bring him to live with me? Sure.
Would I say his children can then also come and live with me for 50% of the time. Not so sure.
Logistically would the onus then be on me to somehow ensure that 50/50 could continue? It would logistically be impossible. Would I cut my work hours to make it happen? No.
Would I want to live with his children / have my children live with his children 50% of the month? No. If he was unable to pay CMS, would I step up and pay it? No.
But on the flip side if something happened to me, would I expect him to step up and provide for my children? No. My exh would be told to step up (and he would). My family would be drafted into help. Financially I would downsize immediately to try and keep the wheels turning. I wouldn’t think it fair to call on his resources (which would take away from his own children’s future and his own future financial security) to help my children.
These are the sorts of thoughts that make me ‘mercenary’. Again I make no apologies about it. Men can have these conversations and it’s smart financial planning. If women have them, all we ‘care about is money’ (said in critical voice).
It’s about time women cared more about their financial independence (including as it extends to step children) as we remain years behind men in regards to this point.