Temporary 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 thus end up getting an agreement that cannot withstand a legal challenge by one of the parties if that should happen.
However, there are a few basic legal principals applicable to legal separation agreements which apply in virtually all 50 states. Perhaps the most important principal is the requirement of financial disclosure. This means that both parties to any marital agreement 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 obligation to the other. Accordingly, before the execution 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 essential 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 a chance to engage in negotiation concerning the agreement. Even if lawyers aren’t kept, 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 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 into a separation agreement subsequently realised the separation agreement provides for inadequate support or a significant change in circumstances occurs after the separation agreement has been signed. Take a look the sample of temporary separation agreement template below at the attachment page.
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