Informal 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 chance of doing your own separation agreement is that you may not have sufficient knowledge of your state’s domestic relations laws, and so wind up with an agreement that cannot withstand a legal challenge by one of the parties if this should happen.
However, there are a few simple legal principals applicable to legal separation agreements which apply in virtually all 50 states. Perhaps the main principal is the need for fiscal reform. 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 the other. 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 issues.
In addition, it’s essential that neither party be subjected to undue pressure. This implies that both the husband and the wife must be given ample opportunity to consider the suggested terms and conditions, and that there’s a chance to engage in negotiation concerning 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 provisions of separation agreements which address property matters (equitable distribution or community property division), the issue of child care is often 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 to a separation agreement then realised the separation agreement provides for insufficient support or a significant change in circumstances occurs after the separation agreement was signed. Check it out the sample of informal separation agreement template below at the attachment page.
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