What is a Separation Agreement?

When partners decide to move on separately, this decision may come after a long term relationship.  They may have children together and need a co-parenting and support plan.  They may have many financial, property and business interests that need to be unwound.  There may also be spousal support issues to be resolved. For most partners and families (whether married or unmarried) there are several ways to resolve these issues.  Resolution methods can range anywhere from reaching an informal deal at the kitchen table at one end, to going to trial and letting a Judge decide at the other extreme.  Neither of these extremes is the best approach for most people, to say the least.  Generally, for most people, the best approach involves a fairly and openly negotiated written agreement, signed after each party has shared financial disclosure and received independent legal advice from their own lawyer.  This is often referred to as a Separation Agreement.

Separation Agreements are Comprehensive

A written Separation Agreement usually contains detailed terms resolving child custody, parenting arrangements, support for spouses and children, property and debt distributions, plans for the allocation and disposition of assets and debts, transfers of property, property equalization and many other issues. Every family is different and so each Agreement is customized. The idea behind such an Agreement is to ensure (as much as possible) the transparent, orderly, lawful, agreeable, fair and controlled resolution of all issues arising from a separation. Peace of mind comes from knowing what will happen, understanding why, and having a clear and legally binding written plan.  

Separation Agreements – Get the Right Advice

Written Separation Agreements prepared without a firm foundation in mutual financial disclosure and the relevant law can cause significant immediate and/or future problems. Separated partners considering a Separation Agreement are entitled to competent legal guidance during the negotiation, drafting, signing and implementation of such an important legal document. Leamy Family Law practices exclusively in family law. We will protect your interests, educate and advise you, and guide you through the process of creating and implementing a clear and effective Separation Agreement.