Cohabitation is an arrangement where two people who are not married live together in a romantic relationship and/or sexually intimate relationship on a long-term or permanent basis.Cohabitation usually refers to unmarried couples who live together without formally registering their relation as a marriage.Such arrangements have become increasingly common in Western countries during the past few decades, being led by changing social views, especially regarding marriage, gender roles and religion.n Greece, family dynamics remain conservative. The principal form of partnership is marriage, and extramarital childbearing and long term cohabitation are not widespread. For instance, in 2012 only 7.6% of births were outside of marriage, which is the lowest percentage among the European Union member states.
Besides revocability, you'll need to consider the timing of the transfer and the associated implications. A living trust (sometimes called an inter vivos trust) is one created by the grantor during his or her lifetime, while a testamentary trust is a trust created by the grantor's will. Only a funded living trust avoids probate court. In a testamentary trust, property must pass into the trust by way of the will and, thus, must go through the probate court process. Similarly, an unfunded living trust technically does not exist until it receives some assets.
On the other hand, a will is a written legal document with a plan of distribution of your assets upon your death. Your executor, as named in the will, oversees this process, and notably, nothing in your will takes effect until after you die. 1. A Living Trust Avoids Probate.One of the first benefits of a living trust is that it avoids probate. With a valid will, your estate will go through probate, the court proceedings through which your assets are distributed according to your wishes by the executor.s a living trust is not made public, upon your death, your estate will be distributed in private. A will, on the hand, is public record and so all transactions will be public as well. Another difference is the handling of out-of-state property you own upon your death.