Many couples decide that their marriage is over for a variety of reasons. However, they may not be ready to file for divorce or want to give their relationship another chance. In these cases, a separation agreement can help to resolve important issues such as property division, alimony, and child custody.
The goal of a separation agreement is to allow spouses time to work out the details of their situation without having to deal with the stress of filing for divorce. The process of establishing a separation agreement can also help to make the actual divorce proceedings less complex and less expensive for both parties. In addition, if the terms of a separation agreement later prove to be more practical than those found in a divorce decree, they can be incorporated into that order instead.
When couples decide to draft a separation agreement, they need to be sure that it meets several key criteria in order for the agreement to be legally binding. This includes that both spouses have been given independent advice on the issues involved and that full disclosure of assets has taken place.
Although a separation agreement can be modified in the future, spouses should remember that they remain legally married until they receive a final judgment of divorce from the court. During this period, the couple will need to consider whether they would like to reconcile and end their separation or would prefer to move forward with their divorce. separation agreements