How to prepare for a separation agreement
A separation agreement is a contract between two spouses. The spouses are either separated or about to separate. Separation isn’t easy, but sometimes it is for the best. Are you planning to separate soon from your spouse or are you already separated? Here is a checklist to keep in mind when you are preparing a separation agreement with your spouse.
Checklist for preparation –
Insurance. A spouse may be required to keep insurance on their spouse, even while they are separated. The insurance is usually anything medical. For example: dental and health for the spouse and the children.
Alimony. Alimony payments are made to one spouse from the other. A premarital agreement can put an end to alimony payments, no questions asked. If a premarital agreement or no discussion of alimony payments were ever made, then these payments are fair game.
Child support. Child support in the separation agreement is similar to the decree of a divorce. In a separation agreement, both parties come to an understanding if possible. If they cannot, a mediator may help settle the issue.
Child custody. Child custody is a major issue in a marriage. A separation can tear up a child’s life. A civil agreement needs to made when it comes to a child in a marriage that is separating. No children in the marriage, no custody issues will arise.
Property. The state you live in may be able to divide the property equally. If there was a premarital agreement, this may not be possible. It depends on what the terms were in the premarital agreement.
Debts. Debts can be divided between both spouses. One spouse may endure more debt than the other. Debts are decided among both parties and a final decision is made.
Tax returns. Tax returns can be filed either jointly or separately. The choice is yours.
As you have discussed and decided upon a subject, check them off the list. This step will keep you in order as to what needs to be done next. The checklist will keep you organized and on top of the game. Tricks of the game from your spouse will not be permitted to proceed further. It is best to be on your toes. You wouldn’t want anyone to pull the wool over your eyes.
A separation agreement isn’t the end of a marriage. It is simply time away from the other spouse.