Undergoing separation is never easy. Many aspects need to be kept in mind. Separation can be emotionally overwhelming. It is the end of a relationship and the beginning of a new phase of life. When you have been together for too long, there are other things like finances and children that need to be considered. The best way to go about defining the rights and obligations of the partners at the end of the relationship. It is always a great idea to reach out to the lawyers at https://www.simpledivorce.ca/. They will help to make the process easier. Here is all that you need to know about a separation agreement.
What is a separation agreement?
A separation agreement is a document that defines the rights and obligations of the partners when the relationship is coming to an end. The agreement would define the division of assets and responsibilities. It will also determine the parenting and support arrangements. Having a separating agreement is a great idea for those couples who want to part ways amicably without undergoing the process of divorce proceedings. It is essential to have the separation agreement reviewed by a lawyer before signing it. Otherwise, the agreement could be challenged during the divorce proceedings.
Why should you opt for a separation agreement?
When two people are in a relationship, they build a life together. Some responsibilities are divided amongst the people. In separation, this life begins to untangle and change. As both the partners shared a lot of things and responsibilities during the relationship, it needs to be taken care of. You might have had plans of sharing pension income or the cost of educating the children. When there is separation all of these plans change. Having a separation agreement helps to formally address all of this. The agreement would dictate the steps that need to be taken by each of the partners. Drawing up a separation agreement can help to avoid misunderstandings.
When should you opt for a separation agreement?
A separation agreement is often considered an alternative to divorce. Once the year-long separation period is over, the divorce can be proved on the ground of adultery or cruelty. A separation agreement has become a popular choice because many times the couples aren’t able to satisfy the requirements for undergoing a divorce. Having this agreement in place will enable to have clarity about the division of assets and responsibilities.
When the separation moves towards divorce, the agreement can help prove the date of separation. It also helps in the formation of bias for the decision when it comes to the division of assets and responsibilities. In the end, the discretionary power lies with the court. They have the right to overturn or vary the separation agreement. Reason is that it is not legally binding.
Reach out to the experts
Undergoing separation is never easy. It is best to have experts by your side. The lawyers at Simple Divorce will help you with the separation agreement. They will go through it with you to help ensure that it is fair.