Separation agreement can be helpful to use when you and your spouse are legally separated because it can help settling your matters after the separation. This agreement also point out to other terms including Marital Settlement Agreement, Legal Separation Agreement or Marital Separation Agreement. They are basically same to protect the assets, property, debts and custody of child. Although not all areas or regional government implement this agreement document but for those that allow this document to use will be useful. To know better, legal separation means that your marriage is different from divorce. You are still married with legal admission. Divorce means that your marriage is terminated.
The document will be great to use when you face these following situations:
- The decision of separation has been decided legally between you and your spouse then you both agree to divide property and asset you own.
- Divorce is the decision and you and your spouse agree to terminate the marriage legally.
- You contemplate a legal separation and consider setting precondition for property division.
- You are going to get legal separation attorney and would like to prepare the division of assets and property.
Separation agreement will help protecting your properties during the separation until the divorce is decided in legal admission and the marriage is truly ended.
Points of Marital Settlement Agreement
- Retain the possession and marital home use
- Responsible toward marital home expenses as well when the legal separation continues to divorce
- How the assets obtain during the marriage will be divided
- Alimony or spousal support
- Spousal benefits will be continued or not and who will be the payer
- Child support and custody
The agreement must be signed by both parties in front of a notary public in order to guarantee the legal matters. The copy of signed agreement must be given and owned by both sides. Separation is usually taken instead of terminated the marriage or divorce because of several reasons. This condition will allow the two parties are under legal marriage status because they have not terminated or ended proved by Divorce Decree. Divorce is stronger in impact while separation is usually reasoned for couple who don’t really want a divorce due to unprepared feeling or other reason. Couple with child may consider about the children’s condition if they get divorce. Economic reasons are also common behind the separation instead of divorce because some couple may expect to retain the insurance and other benefits.
Since this agreement is one of crucial agreement, it is not recommended to consult with your lawyer and have them write an official agreement that can cover all of your interest. But, before that, make sure that separation is your final choice when it tends to go to that direction. Sample agreement below is just a sample to give you more understanding about what should be written inside the document.