A Separation Agreement provides a viable and legal way to solve the problem when couples decide to separate but are not yet prepared or eligible to get a divorce. With this agreement, both sides are able to explicitly define their financial and personal agreements when they are separated so as to guarantee justice and predictability at a time of emotional distress.
A Separation Agreement is a written agreement of a formal contract between the partners who decide to separate. It establishes the manner in which financial, property, and child-related issues shall be handled without necessarily going to court. Although not a court order, the agreement has many legal implications, particularly where both parties have signed in the accord of their own free will, without any financial perceptions and have received independent legal counsel.
A competently drawn up contract usually contains:
Property Division: How the family home is going to be shared and how any property is to be divided or sold off.
Financial Arrangements: Discussing the maintenance payments, debts and a division of assets and savings.
Child Arrangements: It is an agreement on where the children will reside, the frequency of contact with each parent, and how the costs are to be divided.
Pensions and Investments: Demystifying who is entitled to what pensions or any long-term investment.
Future Divorce Proceedings: Determining whether or not the agreed terms ought to be used as the foundation of a financial consent order in the event of a divorce.
A Separation Agreement can offer:
Clarity and Stability: It helps prevent subsequent conflicts by establishing expectations.
Adaptability: Partners are given an opportunity to do customised arrangements that fit their discrimination.
Financial Protection: This guarantees that assets are not disposed of unequally or misused during the separation.
Prerequisite to Divorce: The court will take into consideration what the separation agreement entailed in case of divorce, as long as they were just and reasonable.
In case you are thinking of separation, yet would not be willing to deal with the issues of an immediate divorce, our solicitors will assist you through all the stages. We will assist you in getting a legally viable contract that will protect your interests and ensure that the conflict is reduced in the future.
Call Contact First Law Solicitors and speak with a lawyer about your case and have professional advice on how to write out a Separation Agreement that will secure your future.
We know that separation is a tense experience at times, and at First Law Solicitors, we realise that. We are a professional family law team that offers expert services and creates strong Separation Agreements that meet your demands. We make sure that your financial and parental rights in the agreement are not violated and that the agreement is well understood, just and binding.
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