For unmarried couples who wish to separate, we can advise you on the legal implications of your separation and how best to resolve financial matters. This is a specialist area of law and we strongly suggest you seek legal advice before agreeing a financial settlement with the other party.
Court proceedings for separating unmarried couples can be extremely drawn out and costly. We will therefore do our utmost to assist you in reaching an agreement, whilst negotiating strongly on your behalf for an agreement that is in your best interests.
Such agreements are often recorded in a Separation Agreement and we can draft this for you.
For unmarried couples wishing to separate, it is worthwhile considering whether to record any agreement reached over the division of assets and arrangements for any children into a Separation Agreement.
A separation agreement is also known as a Deed of Separation. It records who is to have what and what the parties’ responsibilities are. It can be particularly useful where one party intends to remain in jointly owned property for some time after the other party has moved out.
When preparing to draft the separation agreement, each party must produce full and frank financial disclosure, showing documentary evidence of their assets and liabilities. Each party exchanges this information with the other. Then a discussion takes place – and hopefully a separation agreement can be drawn up.
The terms of a separation agreement may be agreed:
- Directly between the two of you;
- At mediation; or
- Via solicitors.
What is involved in a Separation Agreement?
On receipt of instructions from a client wishing for a separation agreement, your lawyer will draft a formal agreement.
The separation agreement includes such information as age, employment and accommodation. It will also have details about you and your partner, where you intend to live, how you intend to split your monies and who will have control of the sale of any property. It may also dictate who will pay for what and have information relating to the arrangements for any children.
Is a Separation Agreement legally binding?
An agreement of this kind is not a court order, but it is evidence of the parties’ intentions and will be taken into account by the court if it is clear from the document that both parties had the benefit of seeking legal advice on the contents, each made full and frank financial disclosure to the other and the parties intended to be legally bound by it.
If you wish to discuss matters please call us on Newton Abbot 01626 333380 or complete our Request a Call Back form and we will call you back, at a time to suit you, free of charge.