The Separation Agreement Process

A separation agreement process involves making a formal document that defines the final details of how you and your partner will handle issues like property, debts, custody, and spousal support. It will also determine whether a divorce is necessary and, if so, how that will affect the terms of your agreement.

Typically, the first section of a separation agreement addresses all shared assets and liabilities. These may be transferred to one party or paid off altogether, depending on what both parties choose. This may also include any outstanding debts, including mortgages and loans, as well as a provision for dispute resolution.

The next section of a separation agreement often deals with financial matters, such as calculating spousal or child support payments. It can also address other financial obligations such as ensuring continued health insurance and life insurance coverage. If either party fails to meet any of these obligations, the other could take legal action. This can be avoided by ensuring both parties make full disclosure of their incomes and responsibilities before signing the agreement.

Many couples who work with a divorce lawyer, such as Darren Shapiro, find that completing a separation agreement can help make the eventual divorce much less complicated. A separation agreement is not a divorce order, but it can be attached to any later application for a divorce and become part of the court’s ruling. It can also be a great way to iron out many of the finer points of a divorce agreement before filing it with the courts.