When a couple separate, they often feel it is important to formalise matters but do not wish to start divorce proceedings straight away.
A Separation Agreement is a contract between the parties acknowledging amongst other things that they intend to live separate and apart.
In order for a Separation Agreement to be binding the parties must provide and exchange full details of their financial circumstances. Both parties must obtain in dependent legal advice. Negotiation of the agreement must be conducted through solicitors or a mediator.
The terms of a Separation Agreement can vary depending upon what the parties wish to agree but commonly include:
How financial matters are being resolved.
A date when divorce proceedings will be commenced.
Arrangements for the parties children.
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