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Money Box

Money Box Live: Cohabitation

Money Box

BBC

Business

4.2825 Ratings

🗓️ 28 December 2022

⏱️ 29 minutes

🧾️ Download transcript

Summary

3.6 million couples in the UK cohabit, meaning they live together in a relationship but without getting married or civil partnered. In fact, they are the fastest growing type of family in this country

If those couples break up then they usually split their shared finances without the help of courts or solicitors. In fact, splitting after buying a house or sharing bills together has become known as the ‘millennial divorce’ – only it doesn’t just affect millennials and there are none of the protections of divorce. That can make a big difference when it comes to splitting assets like the family home or pension savings.

We're talking about this today because the government has recently said it won't be addressing recommendations for cohabitation law reforms - for England and Wales.

The experts on this panel are Laura Pomfret, the founder of Financielle, an app and service focused on helping women manage their finances, and Graeme Fraser, head of family at BBS Law.

Presenter: Felicity Hannah Producer: Amber Mehmood Researcher: Star McFarlane Editor: Clare Worden

Transcript

Click on a timestamp to play from that location

0:00.0

On a winter's night in 1974, a crime took place that would obsess the nation.

0:07.0

It was an extraordinary news story.

0:09.0

The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny,

0:14.0

mistaking her for his wife, then somehow just disappeared.

0:18.0

One of the great mysteries in English criminal history. We're still looking for

0:21.7

Lucan. It's honestly one of the most powerful stories of my lifetime. I'm Alex Fontunzelman. This is

0:27.8

the Lucan Obsession. Listen on BBC Sounds. BBC Sounds, music, radio, podcasts. Welcome to the podcast of Moneybox Live, the program about your money.

0:40.8

Today we're talking about cohabiting because 3.6 million couples in the UK cohabit,

0:47.0

meaning they live together in a relationship but without getting married or civil partnered.

0:51.1

In fact, that's the fastest growing type of family in this country.

0:55.0

If those couples break up, they may usually split their shared finances without the help of courts or solicitors.

1:01.0

In fact, splitting after buying a house or sharing the bills together has become known as the millennial divorce.

1:07.0

Only, it doesn't just affect millennials, and there are none of the protections of divorce.

1:11.5

And that can make a big difference when it comes to splitting assets like the family home or pension savings.

1:17.6

We're talking about this in today's podcast because the government has recently said

1:21.0

it won't be addressing recommendations for law reforms on cohabitation.

1:25.8

That's for England and Wales.

1:29.1

So today on Moneybox Live,

1:34.6

we're talking about how to split your finances if you split up with your partner. But first,

1:40.0

let's meet today's panel. I'm joined by Laura Pomfret, the founder of Financial, an app and service focused on helping women manage their finances, and also Graham Fraser, head of family at the firm

1:45.5

BBC Law panel. Good afternoon. Hello. Hello. I want to start with a message I was sent on

1:52.1

social media by Matthew when I was talking about this program. He said to me, just about to move in

...

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