When a marriage ends, it`s never easy. Emotions run high, and there are often many decisions to be made about the division of assets, custody of children, and spousal support. One tool that can help streamline the process and make things less contentious is a marital separation agreement.
A marital separation agreement is a legal document that outlines the terms of separation between two parties who were previously in a marital relationship. Typically, this agreement covers topics such as child custody, property division, financial support, and more.
If you`re going through a separation or divorce, you`ll want to make sure you have a properly executed marital separation agreement in place. In this article, we`ll walk you through the basics of what a marital separation agreement is, what it should include, and how to write one.
What should a marital separation agreement include?
At the core of a marital separation agreement are the terms of the separation. These terms should be spelled out in detail and should be agreed upon by both parties. Here are some of the key elements that a marital separation agreement should include:
1. Child custody and visitation
A separation agreement should lay out the custody arrangement for any children involved in the separation. This includes where the children will live, who will make decisions about their education and healthcare, and how visitation will be handled.
2. Property division
One of the most contentious aspects of a marital separation is often the splitting of property. A separation agreement should outline how any property will be divided between the two parties, including real estate, cars, and other assets.
3. Financial support
If one party is going to be providing financial support to the other, whether it be for child support or spousal support, the agreement should specify the amount and duration of this support.
4. Debt division
In addition to dividing assets, a separation agreement should also address any debts that were incurred during the marriage, including mortgages, credit card debt, and more.
5. Any additional terms
Depending on the specific circumstances of the separation, there may be additional terms that need to be included in the agreement. For example, if one party is going to be keeping a family pet, this should be specified in the agreement.
How to write a marital separation agreement
If you`re ready to write a marital separation agreement, you`ll want to make sure you`re working with an experienced attorney who can guide you through the process. Here are the basic steps involved in writing a marital separation agreement:
1. Start with a template
There are plenty of templates available online that can help you get started with drafting your separation agreement. However, these templates may not be tailored to your specific circumstances, so it`s important to have an attorney review any template you use.
2. Negotiate the terms with your spouse
Once you have a template in place, you`ll need to sit down with your spouse and negotiate the terms of the agreement. This can be a challenging process, but it`s important to work towards finding common ground.
3. Revise the agreement
Once you`ve agreed upon the terms of the separation, it`s time to revise the agreement to reflect those terms. Your attorney can help make sure the language in the agreement is clear and legally enforceable.
4. Sign the agreement
Once the agreement is finalized, both parties will need to sign it in the presence of a notary public. It`s important to keep a copy of the agreement on file, as it will be an important legal document going forward.
Conclusion
A marital separation agreement can be an important tool for streamlining the process of separation and ensuring that both parties are on the same page. If you`re going through a separation or divorce, it`s important to work with an experienced attorney who can help you draft a legally enforceable agreement that meets your needs. With the right guidance, a marital separation agreement can help you move forward with confidence and ease.