What is a Separation Agreement?
If you have separated from your spouse, or common-law partner, you may want to consider documenting the terms of your settlement on a Separation Agreement. A Separation Agreement is a written agreement that records the terms of settlement. It is a legal contract that is enforceable by the courts. Separation Agreements are recommended so that issues can be negotiated and determined outside of court, in order to save time and money on litigation costs.
Separation Date
The Separation Agreement will set out basic background facts including a separation date. Separation can occur even if you are still living in the same home as your spouse, as long as you are living independently. Especially when the spouses have decided that their relationship is over, this intention is communicated to the other person and they are acting in the same way. Reconciliation doesn’t necessarily mean that the clock resets, as long as the reconciliation does not last more than 90 days.
Child Support
If there were children in the marriage, or common-law relationship, the Separation Agreement can set out the child support payments. Child support payments are payments to help with the child’s financial needs. However, child support payments can change if circumstances change.
Parenting Arrangements
The Separation Agreement can set out parenting time, contact, holidays, and other guardianship decisions.
Spousal Support
The Separation Agreement can set out monthly spousal support payments, or lump sum settlements.
Division of Property
The Separation Agreement can set out how family property is to be divided, including homes, RRSP’s, shares in corporations, rental properties, vacation homes, vehicles, and other investments.
Debts
After a separation or divorce, couples may be responsible for the ex-spouse, or ex-common law partner’s debts. A Separation Agreement can set out how the debts are paid, and by whom. This can include credit cards, mortgages, and lines of credit.
Full Financial Disclosure
For a Separation Agreement to be valid, both parties must ensure that there is full financial disclosure. If you do not provide full financial disclosure, there can be a risk that the Separation Agreement is set aside, or changed.
Independent Legal Advice
For a Separation Agreement to be valid, both parties should get independent legal advice. This means that each spouse, or ex-spouse, must have their own lawyer.
Filed With Your Desk Order Divorce
Your Separation Agreement can then be filed with your desk order divorce, or final divorce order. At that point, all the issues would have been agreed on, and the divorce would be uncontested. You would be granted your divorce order, and not be dragged through the court system.
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The material provided in this blog is for general information and education purposes only and does not contain, and should not be construed as containing, legal advice applicable to a particular set of facts. If you require legal advice, please contact us for a consultation with one of our experienced family law lawyers.