If you’ve not yet reached a decision about divorcing or dissolving your civil partnership, a separation agreement can be a natural in-between step.
A separation agreement is a legal, written agreement that specifies your financial responsibilities and arrangements whilst you are separated. It sets out how the couple will divide their assets and responsibilities. This can make for a more amicable divorce, should you choose to proceed to a complete separation.
The separation agreement can include a range of factors, such as:
- Who is responsible for the mortgage and bills
- Who will continue living in the family home
- What will happen if the home is sold
- What will happen with any debts, like loans or overdrafts
- What will happen with joint savings or investments
- What will happen to large items that have been jointly purchased, such as cars
- Whether any maintenance is owed for the support of any children
- Where any children will live/who with
Is A Separation for Married Couples Only?
No. A separation agreement can also be used by cohabiting couples.
If, for example, you have been living together and have a fixed-term rental contract together, the agreement can help set out how the remaining rent payments are split. It can also help divide any joint assets you have.
Pros of A Separation Agreement
- You can make an official agreement that you no longer live together. This means you can’t be accused of desertion or vice versa.
- It officially shows that you both consider the relationship over.
- It is flexible to your specific situation, you can decide what is included.
- If both parties stick to it, the separation agreement can take some of the stress out of divorce.
- Although it is not legally binding, in most cases the court will uphold agreements that have been properly and fairly made.
Cons of A Separation Agreement
- It is not the easiest contract to enforce.
- It can only be changed if both parties agree to changes.
- It is not the final word in divorce/dissolution. The court can disregard it further down the line.
Need Help With A Separation Agreement?
It is possible to write your own separation agreement. However, if there is any future dispute, the court is less likely to accept your version. That’s why it’s important to instruct a lawyer for this. It can save you a lot in legal fees further down the line.
Our divorce lawyers are on hand to help with separation agreements and the overall divorce process. Just get in touch to speak with one of our experts.