Things Every Separation Agreement Should Have

If you and your partner are seeking separation, it’s essential to have a written agreement. A separation agreement goes over the situation and divides the assets and responsibilities between you and your partner.

Background

A separation agreement starts with a relationship background. It states the names of the separating parties, the duration of time they’ve lived together, and whether there are children involved in or outside the relationship. It also states when the separation will come into effect.

Basic Principles Involved

There are a few principles stated in the agreement ensuring the seriousness of the situation. Here, you acknowledge that you both are intending to separate officially by law.

The principles are as follow:

• This is a voluntary agreement where both parties agree to the terms and feel no added pressure or force.
• Both parties must’ve talked about their responsibility and assets to one another for a fair agreement.
• Both parties agree that this is a final agreement; they must accept it and agree with all the separation agreement’s claims and settlements.

Common Clauses Listed in A Separation Agreement

A well-written separation document will go through the events of:

• Death
• Breach of the agreement
• Re-marriage
• A significant change that may impact the other party

Dealing with Responsibilities and Assets

The agreement also has lists going over the assets and responsibilities for both parties involved, including relevant details.

House

The agreement will go over what will be done with shared property, for example, decisions about selling the property and dividing the money or one party paying the other to own the property.

Personal Items

You will decide who gets to keep what and how much time one has to collect their relevant items.

Financial Assets

Any assets or businesses the parties own are listed down. It deals with the amount of money transferred by a party to get sole ownership of the business or the assets involved.

Parental Rights

This section focuses on how both parties will maintain a relationship with their children, and the time each parent gets to spend with the children is written down.

Payment

You will be deciding if any partner will get a lump-sum amount; the amount is written down, including an acknowledgment from both parties.

Seek Legal Consultation Now from Wembley Solicitors

We understand how difficult the process of separation is. If you’re getting a legal separation in Wembley, our professional lawyers are here to provide you with a practical and simple way to proceed with your separation. We ensure all the details, interests, and aspects are covered in your separation agreement.

Contact us today.