Ending a marriage relationship can be very emotional and disturbing. Some choose to divorce, while others opt to separate, where they live apart. But if you must separate, you can either end it in court or just sign a separation agreement without engaging in a legal battle. Some spouses also consider arbitration and mediation to avoid a lengthy and draining legal process. A separation agreement is among the top vital documents when separating. However, you must be careful when drafting and signing one to ensure you do it right. Here are four things to consider when signing a separation agreement.
Cause of Separation
Where possible, you should indicate the cause of separation or divorce. Separation is usually inevitable when irreconcilable issues or differences arise. Some of the common causes of divorce include domestic violence, lack of physical intimacy, extramarital affairs, long-distance relationship, non-commitment, and conflicts. However, you should be careful when outlining these conditions and their terms to avoid problems, mainly if you plan to seek divorce in the future. Be honest with the information you give and have indisputable evidence for it.
Assets
As you draft the separation agreement, you should consider all your assets, particularly the ones you jointly own. You should agree on how you divide them and what happens to the assets you separately had when starting your marriage life. Consider whether you should include clauses that allow you to revisit the property division issue once it's finalized. Have full disclosure about your properties, investments, debt, and savings when signing the agreement.
Legal Help
Signing a separation agreement may seem simple, but it can be tricky. Remember that the agreement should be legally binding, so you should draft it with the legal terms and language in mind. And since you may not be familiar with the legal aspects of the agreement, you should seek legal advice from a separation lawyer. They will consider several things and help you draft a more favorable separation agreement. You might not meet paperwork deadlines and paperwork requirements without legal guidance.
Financial Support
You should prioritize financial support when separating because you won't be living together with your spouse. In this case, you should evaluate the financial support you may need from your spouse, especially if you have kids, to meet their needs. The separation agreement should outline how much you will receive as support and for how long. Ensure you consider your kids' needs because they definitely determine how much financial support the other spouse should give.
Consult a separation lawyer to learn more.
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