A separation agreement is essential for creating an understanding in times of lost faith. This agreement allows the spouses to take proper precautions before experiencing the outcomes of a divorce.
It may consist of marital property, guidelines regarding support and custody of children and other things that need to be separated. Getting legal advice from your attorney might be helpful before signing a separation agreement.
If you are unfortunately going through the process of separation with your partner, read the following sections to understand how this agreement works in depth.
What Is a Separation Agreement?
A separation agreement is a legal pact that covers the terms conveyed by both spouses in a marriage, while they are planning to live separate from each other. It helps in the segregation of the assets and settling the disputes between them, without appearing in front of a judge.
Also, this agreement can be considered as a divorce judgement. The clauses of the separation agreement might be transferred to the understanding of divorce. Thus, it can build a base for a better divorce judgement without any additional hearings.
A separation agreement may be considered along with your attorney’s advice while crafting it. This will help in improving the legal sound of the deal, and thus, it will help in easy validation from the court.
When Do I Need a Separation Agreement?
A separation agreement can be considered critical in the situations when a couple is prepared to live separately, but are not sure if the future holds a divorce for them.
It not only helps you avoid a series of disagreements over various issues, but also solves the chaos and argument during the separation. Avoiding the disputes between the spouses will allow each party a calm dismissal.
Having a separation agreement also helps in issues regarding child custody and support. Major financial factors such as taxes, interest form property, marital assets, debt division, etc. are also covered in this agreement.
With this agreement, spouses should still address the terms in a more sophisticated way. For example, financially-abled spouse marital cash settlement in return for owning the interest in the assets of the spouse.
What is the Difference Between Separation and Divorce Agreements?
Legal separation and divorce are different in terms of the rights and duties of the spouses after the agreement becomes effective.
- A legal separation allows the partners to live separately from each other. However, both spouses remain legally married to each other. After a divorce, the marriage is legally ended.
- A separation does require filing court papers to live separately. However, a divorce does require the interference of the court to end the marriage legally.
- A separation agreement may allow the spouses to receive insurance and tax benefits and does not allow the wife to resume her former name. A divorce separates the resources of both spouses.
Most couples prefer a separation agreement over divorce as it allows them more flexibility in the context of resources, assets and other benefits. It will enable the couple to experience living separately and then consider a divorce.
However, if a spouse has already admitted remarrying, then divorce is the only option.
What Should Be Included in a Separation Agreement?
A separation agreement should include the necessary details of policies regarding living separately. These details can help in providing essential information that should be present in the agreement. Some of the features are:
- The agreement should mention the act of living separately. It should present that both spouses are comfortable with living separate from each, and both intend to respect the terms of the agreement. No enforcement should be applied to a partner.
- It should mention the details regarding the custody of the child and also highlight the child support and the visits that are allowed to the non-custodial partner.
- A separation agreement should include the separation of marital assets belonging to the spouses. This will help in unbiased segregation, thus avoiding disputes in the future.
- The agreement should also highlight the maintenance services that the financially-abled partner would provide to the other. This might include negotiations between both spouses.
These features are not all included in the agreement, however, they are the important ones. For knowing the full content of a separation agreement, please check the template on CocoSign.
A separation agreement is essential for a solid understanding between the partners in a marriage. It helps the spouses to relieve themselves of the circumstances of a divorce while living separately.
Don’t forget to check the free samples on CocoSign to customize your separation agreement.
CocoSign represents a wide collection of legal templates covering all types of leases, contracts and agreements for personal and commercial use. All legal templates available on CocoSign shall not be considered as attorney-client advice. Meanwhile, CocoSign shall not be responsible for the examination or evaluation of reviews, recommendations, services, etc. posted by parties other than CocoSign itself on its platform.