British Columbia Separation Agreement Template

British columbia separation agreement template – In recent years, increasing numbers of people opted to draft their own separation agreement (also sometimes referred to as a property settlement agreement or marital settlement agreement) without hiring a lawyer. By keeping lawyers out of this process, couples can retain more control over their own affairs and save thousands of dollars on legal fees. Needless to say, the risk of doing your own separation agreement is that you may not have sufficient knowledge of your state’s domestic relations laws, and thus end up getting an agreement that can’t withstand a legal challenge by one of the parties if that should occur.

However, there are a few simple legal principals applicable to legal separation agreements that apply in virtually all 50 states. Perhaps the main principal is the requirement of financial disclosure. This means that both parties to some marital agreement must share with every other full and complete financial information. If a single party withholds material information regarding income, assets, liabilities or other financial issues, they may be deemed to have violated his or fiduciary responsibility to another. Accordingly, prior to the execution of a property settlement agreement, each party should offer the other with a complete, written disclosure of all relevant financial matters.

In addition, it is important that neither party be exposed to undue pressure. This implies that both the husband and the wife has to be given ample opportunity to take into account the proposed terms and conditions, and that there’s an opportunity to engage in negotiation regarding the agreement. Even if lawyers are not retained, both parties should acknowledge in the body of the agreement that he or she is aware of the opportunity to retain independent legal counsel and has voluntarily elected to proceed without an lawyer.

While courts generally enforce the conditions of separation agreements which address property issues (equitable distribution or community property division), the issue of child support is frequently treated differently. In most states, an arrangement between parents regarding child support is subject to subsequent modification by a court. This most frequently arises when a party into a separation agreement then alleges that the separation agreement provides for inadequate support or a substantial change in circumstances occurs after the separation agreement was signed. Have a look the sample of british columbia separation agreement template below at the attachment page.

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