Separation Agreements are written settlement contracts where the spouses have agreed to a full or partial resolution of divorce issues. This Separation Agreement is eventually enrolled with the Court as part of the divorce Order. Separation Agreements include such topics as child custody, child support, the use, payment for and sale of the marital home, division and re-titling of cars, bank accounts, tax dependency, retirement accounts and alimony.
Separation Agreements are a great tool to detail settlements in an efficient and affordable manner. Spouses can agree to flexible terms and customize the settlement they want with a Separation Agreement, and can extend the terms of settlement (if agreed upon) to include college tuition, debt repayment and attorney’s fees. Signing a Separation Agreement helps more spouses feel empowered since they reached a decision on their own (without a judge deciding for them) and each of them and their children are able to move on with their lives more quickly, instead of spending their funds on attorney’s fees and their time in Court for months or years.