It is important that both spouses/parties have the benefit of legal advice from a solicitor before entering into a separation agreement because, once signed, it is likely to be a legally binding contract and you may not be able to get out of it. If you have received a draft agreement prepared by your ex partner’s solicitor it is best to come and discuss it with us before signing such a document.
Separation agreements set out how couples are to split their finances and care for their children going forward. An Agreement could say that couples have decided to sell the house, or that one of them keeps the house, and specify who is to take care of the mortgage and bills meantime. It can stipulate how the net free proceeds of the former family home are to be divided. It can specify what is to happen with joint debt and joint bank accounts, vehicles, insurances. A full and final agreement (we can do interim agreements, to quickly get a house sold, for example) will deal with all matrimonial assets and any debts accrued during the marriage. It can specify what is to happen with pensions. You cannot proceed to get divorced until all financial issues are resolved. It is best to do this in a separation agreement rather than ask the Court to grant Orders for financial provision. Please contact us for more advise on this. Each case is different and there can be a lot to discuss and sort out!
It is possible that you and your ex partner have already agreed everything will be divided and you just need a solicitor to draft the agreement for you. These are great scenarios, however, we can only act on behalf of one of you. We can put your agreement into the correct legal form so that it is fully enforceable.