Mutual Separation Agreement Template

Mutual 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 the process, couples can keep more control over their own affairs and save thousands of dollars on legal fees. Of course, the risk 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 getting an agreement that can’t 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 which apply in virtually all 50 states. Perhaps the most important principal is the need for fiscal reform. This means that both parties to any marital arrangement must share with each other full and complete financial information. If a single party withholds material information regarding income, assets, liabilities or other financial matters, he or she 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 issues.

In addition, it’s essential that neither party be subjected to undue pressure. This means 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 a chance to engage in negotiation concerning the agreement. Even if lawyers are not kept, 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 attorney.

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 often arises when a party to a separation agreement subsequently alleges that the separation agreement provides for inadequate support or a significant change in circumstances occurs after the separation agreement was signed. Check it out the sample of mutual separation agreement template below at the attachment page.

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