Every couple should have a relationship contract template whether they are legally married or not. There is an agreement between every couple either written or unwritten known as relationship agreement.
Table of Contents
- 1 What is a relationship contract?
- 2 The advantages of having a relationship contract:
- 3 Things to consider before signing a relationship contract:
- 4 Issues to include in a relationship contract:
- 5 What leads to the need for a relationship agreement?
- 6 The outcomes of breaking a relationship contract:
- 7 Some useful tips to consider while making a relationship contract:
- 8 Conclusion:
- 9 Faqs (Frequently Asked Questions)
What is a relationship contract?
A relationship contract is a legal document that is written and signed by a couple. It defines the rights and obligations that each party owes the each other in a categorical way. It is a process of putting down unwritten rules onto a paper. The main purpose of this document is to provide instructions to the couples on how things will be managed during and after the relation.
Furthermore, a relationship contract includes things like;
- Payment of consumer bills
- Property
- Debt payments
- Individual expectations in a relationship and more
If one party fails to fulfill his or her responsibilities as directed by the written terms and conditions of the contract then it is enforceable by law. This document makes the couples aware about their interests and the kind of relationship you would like to be in.
The advantages of having a relationship contract:
Having a relationship contract provides you a lot of benefits;
Honesty:
Honesty is a way of being fair and transparent in a relationship. Without honesty and openness, there is no relationship that can survive. It is just an illusion of a successful relationship if there is any deprivation in both. On the outside, such a relationship may have a good impression but inside it is totally empty. This morality assists in avoiding and controlling fights, frustrations, and so on.
Communication:
On the basis of silence, a successful and strong relationship isn’t built. It is essential that both partners talk to each other, express their feelings towards each other and listen interestingly to each other. Communication helps them in decision making. This way, they also bring their unwritten or unspoken social contract into a formal documentation.
Awareness of partner’s requirements:
In a relationship, a clear knowledge of a couple’s demands is very essential for a relationship to survive. A relationship contract provides you a clear understanding of the emotional, spiritual, physical and sexual requirements that your partner wants that both of you can achieve them collectively.
In your intentions, bring clarity and alignment:
By creating a relationship contract, you get a clarity and alignment to your long term intentions in a couple. For instance, intimacy and romance are two main factors that feed a relationship. Couples should have fruitful conversations with one another so that they will be able to solve unnecessary misunderstanding and insecurities.
Arriving versus Sliding:
People experience a lot of relationship choices while deciding on whom to marry. This is affected by the cost of failed relationships. So, it is very essential for individuals to take a lot of time on making these kinds of choices. Person’s level of satisfaction and partner’s attraction toward each other are strongly interlinked with the relationship’s decision-making processes.
Things to consider before signing a relationship contract:
Before signing such an agreement, there are some issues to put into consideration;
- You should decide that whether you want a relationship contract or not. Always take time in decision making regarding the contract. Then, ask at the right time. You have to define the seriousness of the contract openly, trustworthily and honestly.
- You have to write your issues separately. This is to make sure that the contract does not reflect on one partner’s desires. Before signing a relationship contract, you have to know that what goes in the contract and what should not be in the contract. This document is useful to provide you an idea what all it will cover.
- Don’t get consequences. You should bring up the issue in a polite manner if one of you breaches the contract.
- You should always take charge of the hard tasks. This is because the relationship contracts help in avoiding arguments about the division of the house chores and obligations. With the help of a relationship contract, you can solve any form of conflict and prevent them from reoccurring. It may require you time and effort but it will make life easier and enjoyable.
- In order to avoid sliding into marriage, each couple should decide on a deadline. You can do this by adding an expiration date to your contract. When the certain date comes, you can easily agree on the procedures to include in your relationship. Therefore, at the early stages of the relationship, the relationship contracts should be drafted.
Issues to include in a relationship contract:
There are some issues that should include in a relationship contract;
Details of property and finances:
Cover all the properties and the properties that you had before started the relationship and properties gained by both of you.
During the relationship, Property inherited or gained as a result of gifts:
The property provided to a couple is owned by two of you legally. This includes the gifts received from a commitment occasion, anniversary party, etc. Also, the gift received from a friend or relative either to one of you or both you.
Expenses:
The contract should explain how you should handle your expenses. This may involve your daily utilities, the cost of food and laundry, and more.
Separation or death:
Provide a short description that what will happen if there will be a separation or one of you passes away. In case a separation, you have to share equally the property you gained. The wealth remains in the hands of the living partner in case of death.
Dispute resolution:
Include all means in relationship agreements that will be used in conflict resolutions. Nowadays, in solving disputes, the couples are advised to use other means like mediation and arbitration if mediation seems to fail.
What leads to the need for a relationship agreement?
When you are writing a personal contract, you should ask yourself the reasons that influenced you to come up with a relationship contract. The contract states the following;
- How a couple remains together
- Their responsibilities
- How money and the material wealth will be shared
- Any other important factors
It would be recommended to draft the relationship contract at the early stages of a relationship. In order to allow flexibility in the relationship, you have to be aware of any changes that may occur in future. You must communicate to your partner while drafting this agreement. Also, you have to strong enough to adjust to any form of change that may occur during the changing circumstances.
The outcomes of breaking a relationship contract:
Before getting married, many couples are usually engaged. The relationship contract is basically sets of regulations that have to be adhered to. Also, it is much more than just a number of demands. There are definitely some issues in your relationship that don’t require a lot of emphasis. But, in day to day life, there are things that may not be attainable like dealing with disputes quickly as they occur.
You may often see that you are breaching some parts of your relationship contracts. You should keep in mind the importance of each and every detail in the contract and honoring it. Remember that your contract consists of guidelines. To remain in a stable position, you have to solely follow it.
Some useful tips to consider while making a relationship contract:
Here are some tips for you;
- The cornerstone of every successful relationship is honesty being open, and trustworthy. Every couple must listen to each other’s thoughts and wishes because this agreement is for both of you.
- Separately write your issues and then share it with your partner. Never accept something on which both of you disagree.
- In order to make your agreement a living document, you should go through it severally together with you partner. Any amendments in the contract would be beneficial for both of you.
- Communicate with each other effectively and in a polite manner. Relationships are prone to mistakes but don’t limit the factors in any relationship.
- There is no need to worry about the consequences.
Conclusion:
In conclusion, a relationship contract template is a legal document that guide couples on how things will be managed during and after the relation. This contract should be signed in presence of a legal practitioner.
Faqs (Frequently Asked Questions)
Generally, a relationship contract isn’t legally binding as it deals with how to make and maintain a relationship instead of the financial fallout when one requires.
There are generally three stages of a contractual relationship;
1- In the first stage, an offer is generated which includes all the necessary and relevant terms of the contract.
2- Another party accepts the offer in the second stage.
3- In the third or last stage, consideration occur in which something of value is exchanged among the involved parties.
Grace Harry is an experienced freelance writer with an experience for 12+ years. She got her Master’s in Financial Management degree from the University of Dennison in 2007. She worked at California State Bank to help clients with their credit, investments, and bank accounts. She likes to assist people in reaching their financial goals when it comes to financial planning.