Parslows have years of experience dealing with financial issues, untangling complex shared assets, and resolving disputes centred around family assets.
Separation Agreements or Judicial Separation
If your relationship (whether by marriage or civil partnership) ends and you decide to live apart, it is important to consider entering into a legal separation agreement. You may have shared assets to divide up or want to make sure that your material assets are protected. It is wise to record any decisions you both agree to in the form of a written separation agreement. This is especially the case where the option of a divorce or civil partnership dissolution is not yet available, or at this stage, you simply don’t want to divorce or dissolve your partnership.
Reaching a separation agreement can be a difficult process. Parslows divorce lawyers have years of experience dealing with financial issues, untangling complex shared assets and resolving disputes centred around family assets.
What is a separation agreement?
A legal separation agreement is a contract between two parties. The contract binds both parties and a failure to follow its terms may result in a claim for breach of contract. The Royal Court has the power to set aside or not enforce an agreement that is unfair or unreasonable or where child support or spousal support is inadequate.
What does a separation agreement usually address?
- Spousal maintenance
- Debts
- Property division
- Child support
- Child maintenance
- Custody and access
Why would you use a separation agreement?
A separation agreement is useful where the parties have not been married for the requisite 3 years. It is also helpful if the parties do not want to divorce due to religious reasons.
What happens with the separation agreement if you eventually get a divorce or civil partnership dissolution?
As part of the divorce procedure, the separation agreement can be presented and thereafter ratified by the Royal Court and its terms incorporated into a Court Order.
Is a separation agreement legally binding?
The Royal Court will have an overriding power to override a separation agreement. However, where a separation agreement has been negotiated and considered reasonable, it is unlikely that the Court would overturn it. Usually, the only way they would agree to such a measure is where a party can prove the other has withheld material information prior to signing the separation agreement.
A legal separation agreement helps make sure you’re both clear about the details of your separation, especially if you have children, joint finances, or property together. We can help you draft a legal separation agreement that covers: how shared assets are divided up, including property and business interests, who will live where, who has responsibility for repaying debts and ongoing financial obligations, where your children will live, and how both of you contribute financially to their care. It can also deal with provisions for divorce or civil partnership dissolution in the future.
Our highly experienced family law solicitors are here to help and support you with any issue you may face reaching a favourable Separation Agreement.
