De facto separation agreement template – In recent years, increasing numbers of people opted to draft their own separation agreement (also sometimes called a property settlement agreement or marital settlement agreement) without hiring a lawyer. By keeping lawyers out of the process, couples can keep 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 wind up with an agreement that cannot withstand a legal challenge by one of the parties if that should occur.
However, there are a few basic legal attorneys related to legal separation arrangements that apply in virtually all 50 states. Perhaps the main principal is the need for financial disclosure. This means that both parties to some marital arrangement must share with each other full and complete financial information. If one party withholds material information regarding income, assets, liabilities or other financial issues, they may be deemed to have violated his or fiduciary responsibility to the other. Accordingly, before the implementation of a property settlement agreement, each party should offer the other with a complete, written disclosure of all relevant financial matters.
Additionally, it’s important that neither party be subjected to undue pressure. This implies that both the husband and the wife must be given ample opportunity to take into account the suggested terms and conditions, and that there’s a chance to engage in negotiation regarding the agreement. Even if lawyers aren’t 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 attorney.
While courts generally enforce the provisions of separation agreements which address property issues (equitable distribution and/or community property division), the issue of child support is frequently treated differently. In most states, an agreement between parents regarding child support is subject to subsequent modification by a court. This most often arises when a party into a separation agreement then realised the separation agreement provides for inadequate support or a significant change in circumstances occurs after the separation agreement was signed. Take a look the sample of de facto separation agreement template below at the attachment page.
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