Marriage separation agreement template – In recent decades, 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 the process, couples can retain more control over their own affairs and save thousands of dollars on legal fees. Of course, 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 end up with an agreement that can’t withstand a legal challenge by one of the parties if that should happen.
But, there are a few basic legal principals applicable to legal separation arrangements 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 one party withholds material information regarding income, assets, liabilities or other financial issues, they may be deemed to have violated his or fiduciary obligation to the other. Accordingly, prior to the implementation of a property settlement agreement, each party must provide the other with a complete, written disclosure of all relevant financial issues.
In addition, 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 consider the proposed terms and conditions, and that there’s an opportunity to engage in negotiation concerning the agreement. Even if lawyers aren’t retained, both parties should acknowledge in the body of the agreement 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 issues (equitable distribution and/or community property division), the issue of child care is often 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 to a separation agreement then realised the separation agreement provides for inadequate support or a significant change in circumstances occurs after the separation agreement has been signed. Have a look the sample of marriage separation agreement template below at the attachment page.
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