What Is A Marital Separation Agreement

If you can agree on the amount and duration of spousal benefits, which is fair and appropriate for both parties, it is likely that the same support arrangements will be included in your divorce judgment. There are many possible regulations for child care. One parent may have legal custody, while the other has physical custody, one parent has both legal and physical custody, or the parents both have shared custody. The allocation of shared custody is the modern trend; However, custody generally depends on what is in the best interests of the child or child. Sometimes it is impossible to have a common physical custody because the parents live too far away. For other reasons, one spouse obtains sole custody because the other spouse has exhibited bad behaviour towards the children. Both parties must sign the agreement before a notary. Each spouse must keep a copy of the signed agreement. You can access a copy of the unsigned agreement through your Rocket Lawyer account. Members who wish to register a digital copy of the agreement signed to their Rocket Lawyer account can simply scan and download them. One of the most important things you will get in your agreement is to decide how you or your spouse acquired during the marriage to divide the assets and debts. As a general rule, the property that was contracted before the marriage or after the separation is retained by the original individual owner.

However, you can choose to allocate your assets in any way you want them to be individually owned. If you own a home together, this is often the biggest asset to share. You and your spouse can agree that one of you will keep it, or you can choose to sell the house and share the net profits. If a spouse retains ownership of the matrimonial home and a mortgage on the land, that spouse must refinance the mortgage in his or her own name within 60 days of signing this contract or, if you submit this agreement to the court, within 60 days of receiving a final separation decision. Childcare: Childcare can be negotiated and included in your separation agreement. It must be appropriate and fair to each parent and their financial situation. If you can agree on an amount, payment dates and duration of payments, you can include it in your separation agreement.