There are several reasons why a couple may choose to separate. For instance, the couple may not want to get a divorce, but don’t want to live together anymore. Or, the husband and wife may not be emotionally ready for the permanence of a divorce. Whatever the case may be, when a couple decides that they want a separation, a written agreement must be created. In the separation agreement, certain terms must be clearly outlined so that both parties are protected.
One important thing that should be included in the separation agreement is who will cover the costs of the marital home should the separation lead to a divorce. These arrangements should be stated in the separation document well before the couple decides if they want a divorce so there will be no disputes about the home during the actual divorce proceedings.
Spousal benefits should also be detailed in the separation agreement. For instance, will both individuals still be covered under joint health insurance? And, if so, who will cover the cost of the insurance? If the husband has been paying for this benefit, will he continue to do so, or will the husband and wife split the cost? This is especially important if spousal benefits include coverage that includes children.
The couple’s income should be listed in the separation agreement as well. In general, couples who have been married for a decade or more should discuss alimony, so that both parties will maintain the same lifestyle they had before the separation. Income from employment, retirement, government income or passive income from a rental property should also be included in the separation document so that proper compensation for both members of the couple can be calculated.
If you need a separation agreement template, feel free to download and use form this post. The document contains all the basic information you need to submit a thorough legal document that will keep you protected during your separation.
Separation Agreement Template,