A marriage separation agreement is a legal contract that includes spousal decisions on the partition of numerous marital assets. One section is devoted to the welfare of children shared by the spouses and includes custody as well as financial support. Likewise, spouses who deem themselves eligible for financial assistance can also apply for that in this document. In addition, this agreement deals with the division of property and outstanding debts, as described by LawDepot.Continue Reading
In this document, spouses agreeing to separate can negotiate and propose the division of custody of minors as well as a visitation schedule, both of which are subject to the approval of the courts. The couple can also determine which parent pays child support, which is typically a monthly payment made by the parent without full custody. The amount that the guardian pays depends on the state in which he lives, according to LawDepot.
In contrast, a spouse can apply for spousal support in the agreement, but its sum is dependent on things such as the length of the marriage and each spouse's financial abilities, advises LawDepot. In terms of property and debts, separating partners must decide what each party receives and pays and identify the value of each.Learn more about Health