A Separation Agreement is a legally drafted document which confirms the terms on which you and your ex-partner have separated, and brings to an end all claims between you.
Particularly where a property is involved, a verbal agreement dealing with the division of assets is not sufficient to protect you in the future. Whilst an unmarried separation may feel less ‘formal’ than a married couple’s separation, the risks to you, your assets and your estate of not putting in place a Separation Agreement are real and significant. For example, a person can claim a share in a property even if it’s not in their name – during or after the relationship has broken down.
How is a Separation Agreement prepared by a lawyer different to an agreement my ex-partner and I draw up ourselves?
Unfortunately agreements drawn up directly by parties without legal representation are very often simply unenforceable. Where an agreement deals with property, it must be drafted in accordance with property legislation, or it will have no legal standing.
Even when there is no property involved, there are various claims that an ex-partner can bring on relationship breakdown or death (even years after separation), and a legally drafted Agreement will seek to debar these and give you peace of mind that you truly have a clean break.
My ex and I are still friends, do we still need one?
Absolutely. Actually many of the disputes we see between ex-partners arise some time after separation, when circumstances and the previously amicable relations have sadly changed. Particularly during the uncertainty Coronavirus is causing, individuals’ circumstances are changing quickly and terms of separation which once were agreeable are now being reneged on.
My ex-partner and I want the option to buy each other out, can that be drafted into a Separation Agreement?
This is something most of our Agreements include. Many individuals are open to their ex-partner buying out their interest in the property, and if they can’t or don’t want to, the property is sold. Our Separation Agreements are bespoke and can deal with almost any arrangement in respect of the property. It’s just important to get this drafted by a specialist to ensure the correct mechanisms are in place for your requirements.
Can a Separation Agreement deal with pets?
Yes! We regularly prepare Separation Agreements dealing with shared care for pets.