Separation agreements are intended to provide financial security for couples that have decided to live apart, but do not wish to divorce or apply for dissolution of their civil partnership at that stage.
The agreement can deal with division of property, money and other assets, the contents of the property and even the household bills. It can also deal with contact or living arrangements for any children.
Although arrangements concerning pensions cannot be finalised until there is a court order, and therefore a divorce, the agreement can include details of how pensions will be dealt with at the time of divorce.
What form future divorce proceedings will take can also be detailed in the agreement, for example, you may agree to divorce once you have been separated for two years.
The agreement will involve:
It is important that before entering into a separation agreement you both provide full financial disclosure so that you can be properly advised on your rights and entitlements. It is also necessary for you both to receive separate legal advice.
A separation agreement is not legally binding and a court could very the terms of it on future application. However, provided that there has been full disclosure, both parties have entered into it freely and have received separate legal advice the court would be hesitant not to follow the agreement unless it would clearly be unfair or unjust to do so.
How we can help
It is important that your separation agreement is right for you. We will advise you fully on what should be included in your agreement and what protection it will give you, depending on your own personal circumstances.
If you would like more details about a separation agreement, or would just like a chat about your options, contact our friendly, supportive team today.