What is a separation agreement?
A separation agreement is contractual document which can be entered into by couples whose relationship has ended or is coming to an end. The agreement would detail what they intend to happen to their money, property and other practical issues as a consequence of their current or imminent separation. Typically spouses or civil partners enter into separation agreements with the view to commencing divorce/dissolution proceedings at a future date but cohabiting couples may also wish to enter into such agreement.
Separation agreements can aid couples to be organised with their finances and have a clear plan as to how matters will be dealt with going forward. In some instances they can also save time and cost by being used as the basis for the financial order that the couple would eventually like the Court to make in future divorce/dissolution proceedings.
Separation agreements are a form of nuptial agreement prepared when couples have separated or are planning their separation. They are notably different to post-nuptial agreements which are entered into when a couple are still in a relationship and that time, intend to remain in a relationship.
The Court’s approach to separation agreements is that they are not strictly binding in the event of a later divorce/dissolution, but the terms of a separation agreement may be persuasive in the event of a dispute dealt with by the Court unless the effect of the agreement would be unfair. As such, you should not enter into a separation agreement unless you intend to be bound by its terms.
How can we help?
In the event of a relationship break down we can advise you on the pros and cons of entering into a separation agreement with regard to the relevant financial and legal implications. We can assist you with the preparation of an agreement; we will discuss the issues that are important for you to include within the agreement and work with your partner and any lawyer they have instructed to agree the terms.
In addition to receiving legal advice it may suit you to discuss matters with your partner directly with our support in the background or to consider other methods of reaching agreement such as mediation to agree specific terms.
Our Family Law team can advise in relation to separation agreements and all aspects of separation and divorce so please get in touch if you would like to find out more.
