Sometimes, life isn’t as simple as you want it to be. Complications can arise, especially in a romantic relationship, that might want you to separate from or divorce your partner. However, you know that both of you love each other. At the same time, both parties have issues they need to deal with separately and together. If you decide to separate for a while, with no deadline in mind, getting a separation agreement will protect your assets and resolve child custody issues.
What is a separation agreement?
A separation agreement is a legal document that outlines the terms and conditions of a separation between two individuals who were previously in a romantic relationship. It is a private agreement that is negotiated and signed by the parties involved, and it can cover a range of issues such as child custody and access, spousal support, property division, and more. The agreement can be as detailed or as simple as the parties wish, but it must be signed by both parties in the presence of a witness.
Why do you need a separation agreement?
If you are separating from your partner, a separation agreement is an essential tool that can help you avoid costly and time-consuming court battles. By negotiating and signing a separation agreement, you and your partner can agree on the terms of your separation and avoid going to court to have a judge decide the outcome. This can save you a lot of money in legal fees and can also help you maintain a more amicable relationship with your former partner.
What can be included in a separation agreement?
A separation agreement can cover a wide range of issues related to your separation, including:
- Child Custody and Access: If you have children, the separation agreement can outline the arrangements for custody and access.
- Child Support: The agreement can also include provisions for child support payments.
- Spousal Support: If one party is entitled to spousal support, the agreement can include provisions for spousal support payments.
- Property Division: The agreement can outline how property and assets will be divided between the parties.
- Debt: The agreement can also address how any debts or liabilities will be divided between the parties.
- Insurance: The agreement can outline any insurance policies that will be maintained after the separation.
- Taxes: The agreement can address any tax issues that may arise as a result of the separation.
- Other Issues: The agreement can include provisions for any other issues that the parties wish to address.
Is a separation agreement legally binding?
Yes, a separation agreement is a legally binding document that is enforceable in court. However, to be enforceable, the agreement must be in writing, signed by both parties, and witnessed by a third party. Each party must also receive independent legal advice before signing the agreement to ensure that they understand their rights and obligations.
Can you change a separation agreement?
Yes, it is possible to change a separation agreement if both parties agree to the changes. However, any changes must always be in writing and signed by all parties. It is also recommended that both parties receive independent legal advice before making any changes to the agreement.
A separation agreement is an important tool for couples who are separating and are looking to avoid costly and time-consuming court battles. If you are considering a separation agreement, it is important to seek legal advice from a qualified family lawyer to ensure that your rights and interests are protected.
If you’re looking to draft a separation agreement in Canada, Sterling Law is here to help you. We have over 30 years of family law expertise and have made several agreements. We have offices in Brampton and Mississauga and also offer separation agreement drafting virtually. Get in touch with us today.