What is a separation agreement?
A Separation Agreement is the traditional means of memorializing a settlement in dissolution cases. The agreement is drafted by the parties’ legal counsel, and then acknowledged and signed by the parties. The agreement provides for all of the financial arrangements (alimony, child support, real and personal property, counsel fees, etc.) to which the parties have agreed, as well as for the custody and visitation of children, waiver of rights in future property (including estate rights), and other matters. If the parties have settled their case by agreement, the case is considered “uncontested” and a hearing is scheduled. At the hearing, the court inquires into such matters as jurisdiction, whether the grounds have been proven and whether the agreement is fair and equitable to both parties in light of their resources and needs. The courts favor private resolution of disputes, and in the interest of public policy the parties’ agreements are almost always approved.
A separation agreement is a legally binding agreement between spouses that covers the period of time from when you separate until the divorce. It is a contract that outlines the terms of the couple’s separation, and it generally resolves all issues relating to child custody, child support, alimony, division of property, and apportionment of debt. To be valid, a separation agreement must be in writing, signed by both parties, and it must be notarized. A legal separation is normally the first step in a divorce case. At the time of the legal separation, the debts and property are usually “frozen” and made are separate for each spouse. During the legal separation, if your ex-spouse goes out and runs up huge credit card bills, then you aren’t responsible for them in the view of the court. A spouse is also prohibited from disposing or converting marital assets during the legal separation.
A Separation Agreement (separation contract) is a written proclamation that legally confirms husband and wife are living apart and both or just one [of them] intends to remain that way. Separation Agreements are written legal contracts, signed by both husband and wife, and are notarized. While North Carolina doesn’t require a written agreement to be consider a husband and wife as legally separated, a Separation Agreement and Property Settlement (SAPS) can be used to detail child support and custody, distribute property, and alimony (typically financial assistance given to the wife), and the SAPS may act as a precursor to an eventual divorce. Consult an attorney to determine if you need a Separation Contract or a Separation Agreement and Property Settlement (SAPS). You may also read more about legal separation in our family law section.
