You’re living together but not married: are your rights protected with a written “living together agreement?”

If the relationship is likely to be long term or if you buy major assets together you should have an agreement that spells out whether either partner has rights to the property and income of the other. It should also spell out what belongs to whom and who is responsible for debts.

You are not responsible for your partner’s debts unless you cosign for a loan or credit card or put both names on a lease or some other type of financial document. If you have a joint credit card account you are each responsible for the entire debt.

Estate planning is very important for couples who live together. Spouses automatically inherit from one another. The only way you can inherit from your unmarried partner, however, is through a will or living trust.