Most people, confronted with a failed relationship, want a fair settlement reached quickly and at reasonable cost.
A Separation Agreement is a private written contract which settles the issues which follow separation. Normally these issues include a parenting arrangement for children, child and spousal support and equalization of property.
Each party should have independent legal advice and each should make full financial disclosure as part of the agreement process. In this way the parties will have a binding agreement which will allow them to go forward in their lives, confident that all issues have been settled.
The lawyer’s job is to carefully review the factual and financial background, provide a summary of the relevant laws, consider and recommend options and choices and take instructions for negotiation of terms for a Separation Agreement.
Separation Agreement negotiations involve an exchange of financial information and ideas for an agreement. Frequently the parties and their lawyers will meet to try and settle differences.
Where there are difficult issues the parties will be encouraged to use the services of a mediator.
If a settlement is reached it will be put into writing and will become the parties’ Separation Agreement.
If there are difficulties with enforcement of the terms of the agreement, it can be filed with the Court and enforced as if it was a Court Order.
Generally speaking, the negotiation of a Separation Agreement is the quickest and least expensive way for a couple to resolve their issues after separation.