01 February 2022
If you are separating from a partner, you may have considered a separation agreement. In this article, we set out common mistakes to avoid.
There are certain practicalities that you will need to consider if you have decided to separate from your partner. Even if you are unsure if you will divorce or dissolve your civil partnership, you will need certainty about matters for the time being such as:
● Where you both will live
● Arrangements for any children you have together
● How to divide your money and assets
● Whether you can both afford to pay bills if living separately
A separation agreement is a document that sets out the terms of your separation. Negotiating a separation agreement can be challenging, especially at an emotional time for you and your family.
Sometimes parties can feel pressured into agreeing to terms they are unsure of for the sake of ‘getting it done’. In family relationships, people can often put their emotions before their practical and financial needs, which can cause problems later on.
In this situation, having a lawyer to take care of your best interests is essential. A solicitor will listen to you and what you want from the agreement and negotiate the terms on your behalf.
A separation agreement itself is not legally binding. However the court will take into account your previous agreement and arrangements when you begin divorce proceedings as one factor in your case. Therefore, it is important that you consider the consequences for you and your family in the long term.
If you want to protect your arrangement, you should take steps to ensure that it is formalised and recognised by a judge if you go on to divorce.
A judge will usually recognise a separation agreement when:
• the agreement is fair;
• both parties fully understood what they were agreeing to and have received legal advice;
• there has been full and frank financial disclosure of both parties assets and liabilities; and
• the document has been drafted by a solicitor with a schedule of your assets and liabilities attached.
Generally, you and your partner’s financial circumstances must be the same as when you entered into the agreement. If there has been a change in either parties’ circumstances, the Court may not uphold the agreement.
We recommend holding off committing to a new rental agreement, mortgage, car finance or any other large financial commitment until the terms of the separation are agreed. Your partner may have verbally committed to a financial arrangement, but this could be very different to what is set out in a formal document.
If you would like more information about separation agreements please call our Bournemouth office to get in touch with one of our trusted and experienced family solicitors.
Please note, this is not legal advice. It is intended to provide information of general interest about current legal issues.
