What exactly is a separation agreement? A separation agreement is a written contract between spouses that outlines how their shared assets and duties will be distributed if their partnership ends. While not legally binding, it is a formal contract that may be contested in court if properly drafted. For further information, contact us. What is the point of having a separation agreement? A couple may need to form a separation agreement for a variety of reasons, including: ➢ You want to divorce or dissolve your civil partnership but don't want the finality of divorce or a dissolved civil partnership. ➢ You don't want to divorce because of religious grounds. ➢ Because you haven't been married for 12 months, you can't seek a divorce or have your civil partnership dissolved. What should be included in a separation agreement? Any information significant to both parties at the conclusion of the partnership might be included in the agreement. As an example, ➢ What will become of the family home? Who will be living there? Is it going to be sold? How are the mortgage/bills going to be paid? How will the equity be allocated? ➢ What will become of any savings or inheritance? ➢ How will you handle any debts? ➢ Will any of you receive maintenance, and if so, for how long? ➢ What arrangements have been made for the children, such as where they will reside, how they will spend their time with both parents, and how their financial requirements will be met? ➢ How will any personal property, such as automobiles, furniture, and so on, be divided? ➢ It can also make provision for a divorce in the future if both parties are ready. Do I need to seek legal advice to secure a separation agreement? If you or your partner are having difficulty reaching an agreement, a family lawyer can assist you with the negotiating process. They can thoroughly examine the wording of the agreement to see whether you are being represented honestly and fairly. There may be key elements that you did not consider that your lawyer will be able to bring out and assist you prevent costly future problems. Once the conditions have been agreed upon, an attorney will prepare the agreement and negotiate with the solicitors of the other parties until the substance is agreed upon. Each party must get independent legal advice on the terms of the agreement from different solicitors.