Separation / Separation Agreements

Separation

Divorce is not the only way to end a marriage or relationship. Parties may do so by simply separating. You do not have to pursue the divorce. However, the separation is most commonly done by way of an informal agreement between the parties, or by way of a formal agreement (i.e. through the use of lawyers, mediators or arbitrators and the drafting of a Separation Agreement).

What is a Separation Agreement?

A separation agreement is a legally binding document that outlines the terms and conditions that are agreed upon by both parties. The document will essentially resolve issues arising from the matrimonial separation and will possess key components addressing:

• Property division;
• Division of assets an debts;
• Spousal Support;
• Child Support;
• Parenting arrangements (child custody and access)

Benefits of a Separation Agreement

Lawyers may go back and forth and negotiate the details of the agreement – to ensure they are effectively advocating on your behalf. It is important to craft a comprehensive and detailed agreement to ensure there is clarity and certainty for parties. This helps reduce the likelihood of future conflicts or misunderstandings by the parties, as they can refer to the agreement if they are unsure how to proceed on a matter.

Negotiating a separation agreement outside of court is often better as the parties would have more control over the outcome and would be able to tailor it to their needs and circumstances. Also, it is more efficient and cost-effective – which is always a bonus!