If you were to believe everything you read in the papers or saw on TV, you’d probably think that there’s no such thing as an amicable split. Public accusations, toxic arguments and court battles are presented as the norm.
Thankfully, back in the real world, this doesn’t have to be the case. It is possible to have an amicable separation or divorce, with none of the animosity that you see hitting the headlines.
Key to keeping things respectful and non-confrontational is a separation agreement.
What is a separation agreement and why is it beneficial in amicable divorces?
A separation agreement outlines how your finances and property will be handled if you’re separating, have decided to proceed with a divorce, or wish to end a civil partnership. The agreement provides each party with a clear idea of their financial rights and responsibilities when the relationship ends and will need to be agreeable to each person.
The financial settlement is often one of the most contentious parts of the divorce process. A separation agreement can take some of the sting out of the situation by resolving financial disputes and questions early on. This removes a key source of conflict, helping to keep things amicable as the divorce proceeds.
Another benefit of drafting a separation agreement is that it can be submitted to the court to become legally binding as a consent order. It is quicker and cheaper to decide how finances will be split between yourselves, rather than asking the court to decide. This avoids the cost, tension and anxiety that typically accompanies court intervention.
What key issues should a separation agreement cover to ensure clarity and fairness?
A separation agreement is only useful if it’s clear, fair and complete. Key issues to address include:
Financial matters: There are multiple financial matters to deal with in a separation agreement, spanning almost every aspect of daily life together. These include things like savings and joint accounts, along with the payment of credit cards, mortgage or rent and similar.
This section will also outline whether any spousal maintenance payments are to be made and if so, for how much. If children are involved, details of any child maintenance payments and plans to cover child-related expenses should also be covered here.
Living arrangements: Even if there are no immediate plans to divorce, reaching an agreement on living arrangements can also help to keep things amicable as the relationship ends. The separation agreement should make it clear what happens to the family home. The specifics will depend on each person’s circumstances. If one person will stay in the home while the other moves out, the separation agreement should outline who’s responsible for bill payments and any agreed payments to cover the cost of moving, for example.
If the plan is to sell the marital home instead, this section will detail how the proceeds will be divided.
Division of assets: The separation agreement will also outline how assets will be divided. Assets may include investments, savings, vehicles and even items of jewellery, artwork or furniture.
How does a separation agreement simplify the legal process of divorce?
A separation agreement can go a long way towards simplifying the legal process of divorce by providing a clear division of assets and accordance on financial responsibilities. It helps to clear up some of the main stumbling blocks (namely who receives what, and who is responsible for which payments) early on.
This makes for a faster and cheaper divorce, helping the former couple maintain a cordial relationship and allowing both parties to begin the next chapter of their lives with a clear idea of their financial situation.
Can a separation agreement be legally enforced and what happens if one party breaches it?
A separation agreement isn’t legally binding but, some aspects of it may be upheld by the court if it is drafted correctly and considered fair to both parties.
A separation agreement can form the basis of a consent order, which is the legally binding and enforceable version of a financial agreement.
What steps should couples take to negotiate and finalise a separation agreement effectively?
Negotiating a separation agreement can be tricky, especially when emotions are running high in the immediate aftermath of a relationship breakdown. It’s important to seek legal advice as early as possible.
A solicitor experienced in divorce finance and family law will be able to negotiate each aspect of the agreement, to ensure that due consideration is given to the division of assets and responsibilities. The solicitor will work in your best interests, ensuring the final agreement is fair and balanced.
If you’re going through a separation, we’re here to help. Contact us in confidence to find out more.
