A separation agreement is an agreement that both you and your spouse enter into to obtain a legal separation (without Court intervention). The separation agreement details the rights and responsibilities of both you and your spouse while you live separate and apart for a period of time. However, you are still married which means that any debts that you or your spouse incur are still your responsibility, and any assets that you acquire while separated are still subject to equitable distribution.
Separation agreements deal with issues such as:
· child support, custody, visitation
· spousal support (aka maintenance or alimony)
· who gets the house
· where you each will reside
· division of property issues (marital assets and liabilities) and
· many other provisions that may be unique to your situation .
Once you and your spouse are ready to divorce, the separation agreement will be used for the divorce.
In October 2010, New York State became a No Fault Divorce state. This means married couples wishing to divorce no longer need to prove that one of the partners is at fault and you and your spouse can file for an uncontested divorce immediately and simply state that there has been an irretrievable breakdown of the marriage. This is good news. But it is also imperative that once you and your spouse have decided to separate and ultimately divorce that you both work toward composing a written agreement making the necessary decisions about the rest of your life especially if you have children.
MANY ISSUES NEED TO BE DISCUSSED:
child custody, child support, visitation, the house, alimony, bank accounts, pensions , health insurance, debts the list goes on and on. Whether the couple has children or not.
In some cases it may make sense to live under a separation agreement for a while before filing for divorce, others may want to come to an agreement , sign a stipulation of settlement and file for divorce right away which ever route the couple decides to take it is important that you put your differences aside so that these vital decisions be made fairly and together.
WHAT IS THE DIFFERENCE IN COST BETWEEN A LITIGATED DIVORCE AND A MEDIATED DIVORCE?