What are marital separation and settlement agreements?
A Separation Agreement generally refers to an agreement, executed by husband and wife, that memorializes their intention to permanently separate (live separately and apart). It typically includes negotiated provisions pertaining to their respective financial interests and relating to the children of the marriage. Some of the matters that are addressed include distribution of property, alimony/spousal support, child support, custody, and similar issues. The phrase Separation Agreement usually refers to an agreement that is executed before there has been a filing for divorce. In contrast, a Settlement Agreement usually refers to an agreement executed after there has been a divorce filing. In actuality, the two types of agreements are nearly identical, with the exception that the divorce agreement generally makes reference to the existence of an ongoing divorce action.
