Laws about marriage, separation and divorce can seem quite daunting. Especially when you are separating from your partner, there are so many things that you need to take care of. If you have assets and children together, all of these should be considered while deciding. You will work tirelessly to agree about all the crucial things with your partner. If you have been able to do that, you should reach out to Musson Law, who will help to turn it into a separation agreement. This kind of agreement can help to make things easier. It dictates the rights and obligations of the partners. It is crucial to note that separation doesn’t mean divorce. A couple can get divorced when they have been separated for at least a year. Whether you are a married couple or a common-law couple separating, you can draw up a separation agreement to make the process easier.
Legal separation doesn’t mean filing paperwork to declare yourself as legally separated from your partner. A couple is legally separated when one or both of them decide to live separate and apart. There has to be no chance of reconciliation. This decision of separating needs to be communicated to the other partner to be considered legal. The separated couple can choose to live in their own homes. They would also be considered to be separated if they are living in the same house, but are leading separate lives. It can be a bit complex to decide when a couple has separated. The separation does have a financial impact.
It is a written agreement that outlines the rights and obligations which both parties have agreed upon. The agreement is drawn up by married couples and common-law couples. For it to be considered valid it needs to be signed by both the partners and witnesses. For the agreement to be fair, you should have a lawyer by your side. The lawyer will assist you in drawing up the agreement. They will analyse the clauses present and will ensure that it is fair. The lawyer will review and evaluate the complete agreement before you sign it.
The agreement should cover all the crucial things. If you and your separating partner have children together, the agreement should dictate details about them. It should discuss where the child will live, decision making, parenting time, amount of child support and duration. In the case of spousal support, it will reflect whether it would be paid or not. If yes, then how much and for how long. When the couple has a family home, it needs to be divided between them. The clause will outline how the property will be divided. Whether it will be sold and how the proceeds will be divided. It will also outline the division of other assets like stocks, investments and pension. Debt also forms a part of it. The agreement will dictate who will be responsible for paying the debt and how it will be paid.