Information found on a separation agreement includes information about how the marital assets are to be divided, the terms of spousal and child support and who retains possession of the marital home, Rocket Lawyer says. A separation agreement is generally drawn up because the couple wants to finalize the finance and asset situation before a divorce proceeding.Continue Reading
When a legal separation agreement is drawn up, the agreement contains a number of terms that couple must follow, including how the expenses of the marital home are divided and paid during the separation and how those expenses are paid when the divorce is final, how the assets during the marriage are divided during separation and divorce, and whether or not spousal support is awarded. Generally, spousal support is awarded in marriages that lasted longer than 10 years, Rocket Lawyer says.
When a couple seeks a divorce, many times they opt to legally separate first for a number of reasons, Rocket Lawyer explains. These reasons range from the fact the couple may not be ready emotionally for a divorce, they may not want to live together but don't want a divorce, or they may want to stay married to continue health or tax benefits.Learn more about Law