Whether you’re separating from a partner you’re not married to, dealing with a property dispute, or married but not ready to divorce, these situations can be emotionally and legally complex. In such cases a Separation Agreement may be the protection you need when dealing with finances and other issues upon the breakdown of a relationship. This article aims to provide you with a better understanding of how a Separation Agreement can assist you in navigating those challenging times.
What is a separation agreement?
A Separation Agreement, also known as a Deed of Separation, is effectively a contract entered into between parties seeking to address various issues upon the breakdown of a relationship The Separation Agreement can regulate how you deal with your finances, properties, the arrangements for children, as well as more specific issues such as responsibility for any pets or payment of liabilities. One of the significant benefits of a Separation Agreement is that it can be specifically tailored to your circumstances.
When would I need a Separation Agreement?
Couples enter into a Separation Agreement for a vast number of reasons. Those reasons often depend on whether they were married or not.
Married Couples
Some married couples simply, for religious reasons or otherwise, do not want to formalise a separation by way of divorce, or wish to delay the process for personal or practical reasons. For example, they may wish to undertake a trial separation. It may also be that you have not been married for one year and therefore cannot yet commence the divorce.
In those circumstances, the more widely known Consent Order, which would be approved by the court, is not available to you. However, a Separation Agreement can set out agreements reached between married couples, particularly in respect of their finances. Such an agreement can also form the basis of a Consent Order later down the line, should you opt to commence divorce proceedings at a later date.
Unmarried Couples
Separation Agreements are much more widely used for unmarried couples, largely because this is often the only way to formally record an agreement reached upon the breakdown of a relationship. A Separation Agreement for unmarried couples is particularly important when dealing with property and even more so if you are looking to deal with that property at a time in the future. Although you can have assurances from your ex-partner, having those assurances formally documented is always extremely wise.
The claims that unmarried couples can make against the other are much more limited than their married counterparts and therefore a Separation Agreement can deal with matters that could otherwise not be dealt with by law, such as maintenance payments or responsibility of liabilities.
Financial separation agreements and how to divide finances fairly
Whether you are married or not, most couples have mingled their finances to some extent. Whether that be a joint mortgage, joint bank accounts or savings, or even joint debts. The way those finances should be dissected and dealt with is very much dependent on your specific circumstances, which is why it is important to get legal advice at an early stage. Transparency and mutual agreement is important in seeking to reach a fair and workable solution.
Is a separation agreement legally binding?
Strictly speaking, a Separation Agreement isn’t legally binding, in the same way a court order would be. However, they are often the best protection couples can have. They are a contract and thus can be challenged in court and represent the parties’ intentions at the time, which can be relied upon if court proceedings are required in the future. The court has the ability to give appropriate weight to such an agreement as they see fit, which if drafted correctly can be substantial. It is certainly much more sensible to have one than not and they offer a significant degree of protection and peace of mind.
How to create a separation agreement
You will need to work with your ex-spouse or ex-partner, whether with the assistance of a mediator or solicitor, or simply between you, to establish what needs to be considered. Every couple’s circumstances are different. Finances and property inevitably tend to top the agenda. However, unlike a Consent Order through the courts, a Separation Agreement can incorporate agreements as to arrangements for children, which can be particularly helpful, as well as care and responsibility of the family dog.
There is a need for transparency. If a couple are to enter into a Separation Agreement, which is likely to assist them both, then it is important to have full and frank discussions to ensure a fair agreement can be reached.
Why choose Goughs Solicitors for your separation agreement
Although it may be possible to agree the arrangements upon separation with an ex-spouse or partner, it would be sensible to seek legal advice in preparing the Separation Agreement. A court would only uphold terms that are fair and reasonable and therefore getting advice at the outset is important. Whether you need assistance in agreeing the terms of a Separation Agreement, or simply formalising an agreement reached, Goughs would be happy to assist.
