A separation agreement is a written, private, legally binding contract that covers each spouse’s rights and responsibilities after the separation. This type of contract covers the important matters that need to be settled in a divorce, such as child support, alimony, investments, inheritances, life insurance, or matters regarding child custody, parenting schedule, and child’s education. Anything important for the family can be sorted out by the separation agreement.
There are many advantages of getting a separation agreement negotiated by a lawyer out of the court system. If the divorce follows, the separation agreement will generally make the process less stressful and less expensive for everyone involved.
So, what are are the benefits of signing a separation agreement versus suing your spouse in Family law Court?
COST. The cost of negotiating and drafting a separation agreement with a help of a lawyer is much lower than litigation. Going on trial and letting the court settle things between you and your spouse can easily cost between 10K and 70K.
CONTROL. Spouses can negotiate each issue and find solutions that suit their specific needs. They can tackle every single concern they have, no matter how big or how small. In a negotiated separation agreement couples can stipulate their own terms as opposed to following a judge’s ruling.
PRIVACY. A separation agreement is not a public record, unlike court documents. So, your coworkers, friends, or employer will not have access to your separation’s terms without your consent. In contrast, the judge’s decision and entire court file is a public record and anyone can read it.
TIME. Going on trial is a long and time-consuming process. Reaching a settlement is much faster and easier. The negotiations of the separation agreement could last 1 to 2 months, depending on the spouses’ willingness to cooperate in the process.
These are some of the advantages of a separation agreement compared to court litigation, and for most couples anything that makes separation easier, faster, cheaper, less traumatic, and private is welcomed.
The Risks of Verbal Agreements
Some couples are tempted to end their marriage as fast as possible and with the least amount of friction. Therefore, they sometimes choose to make verbal agreements when it comes to their assets or child custody. This brings up the risk of people changing their minds or conveniently forgetting things that they do not like anymore.
At the time of separation, couples may agree on the separation terms, but in time people may change their minds and after a while refuse to perform the obligations.
If your spouse will not honor the verbal agreement in the future, there is not much you can do to legally enforce it or take any action against it. So, there is a great risk for both spouses if the terms they have agreed upon are not written down and signed.
But when you have a separation agreement drafted by a lawyer in compliance with all the legal requirements and executed by both spouses, the courts will recognize its legality.
In most cases, having an agreement drafted by a lawyer that covers all the important details of your separation is enough to keep you both out of court. The simple idea that the contract exists and can be referenced in times of dispute is enough to convince each spouse to live up to the responsibilities they agreed with.
The separation is too important to be agreed upon verbally, so having a legal contract will ensure the security and well-being of all the people involved.
The Importance of Using a Lawyer
It is always a good idea to have an experienced lawyer draft and advise you on the separation agreement, even if you and your spouse are on good terms and agree on everything. Any small mistake or poorly worded provisions can create major problems in the future.
Both spouses must be represented fairly in the separation’s negotiations, not only for ethical reasons but also to avoid the risk of being considered invalid. Your separation lawyer from Beffa Law will draft the separation agreement, however, the lawyer may only represent one spouse in the process. The other spouse will need to seek independent legal advice from a separate lawyer.
Our vast experience will assist you in your negotiations with your spouse since there are many aspects that you might inadvertently miss. We will make sure that no important matters are left out since that could lead to expensive conflicts in the future.
We will use our expertise in family law to make sure that your separation agreement is complete, accurate, and dispute-free.
A separation agreement is a powerful tool to enforce the decisions made at the time of separation, and to make sure that the process is done privately, with minimum stress and costs. Make sure you contact our Oakville lawyers and get assistance with your legal needs. We will come up with quick and cost-effective solutions to your problems, so you will enjoy a worry-free and fair separation.
Learn More
Business Charity community Contracts COVID-19 divorce Estate Planning Family Law immigration Incorporation Not For Profit Postnup Power of Attorney Real Estate Registration separation agreement Sponsorship Startup Taxes Wills Wills & Estates Wills and Estates Work Permit