What is a separation agreement?
A separation agreement is a legally binding contract used by spouses to set out their own terms of seperation, including specifiying shared and separate property and debt, spousal and child maintenance, and more.
What does a separation agreement cover?
A separation agreement when a couple who wants to separate and formally divide their resonsibilities for things such as spousal maintenance payments, child custody and visitation schedules, child maintenance payments, health insurance coverage for children, possession or sale of the matrimonial home, division of physical assets includings items owned, and division of outstanding debts.
When should I use a separation agreement?
You should use a separation agreement if you are getting divorced or ending a civil partnership, if you are entering a trial separation where you will not be living with your spouse but want to remain married to them, or if you are permanently separating from your spouse, but wish to remain legally married.
Do I need a separation agreement?
Whilst not a legal requirement, a separation agreement can help to protect your personal interests and reduce conflict during a difficult time.
Anything you include in a separation agreement may be considered legally binding by a court or have strong influence upon the outcome of financial rememdy application. Consequently, you should take legal advice before singing this agreement.