You've probably heard the phrase "We're separated" a hundred times, but never--until now--wondered waht it really meant. This chapter will tell you what a separation agreement can do for you and what it can't. 30. What is a separation agreement?
It is a contract between a husband and wife in which they agree to resolve such matters as property division, debts, custody and support when they separate from each other. 31. Who prepares a separation agreement?
It is best to have an attorney prepare one for you.
32. Can we divide our property in a separation agreement?
Yes. The two of you can agree upon a division of property in your separation agreement and that agreement will be binding. The property to be divided consists of real property (such as land and the buildings on it), tangible personal property (such as cars, jewelry and furniture) and intangible personal property (such as bank accounts, stocks and bonds, vested pensions and life insurance). 33. Do I have to have a separation agreement?
The law does not
require a couple to execute a separation agreement, but it is a wise idea if there are debts, children, support claims or property involved and the parties want to settle these matters in writting.
34. Does my spouse have to sign a separation agreement?
An "agreement" means that both parties sign voluntarily. You can not compel your spouse to sign a separation agreement or to agree to the terms you wish to impose on her/him in the agreement.
As written by: Edwin Schilling III & Carol Ann Wilson
- The Survival Manuel for Men in Divorce
- The Survival Manuel for Women in Divorce
Courtesy of:Stephen E. Sisman
Short Sale and Foreclosure Resource,
Certified Short Sale Master
Certified Divorce Specialist,
Associate Leadership Counsel Alumnus,
a member of the Delaware County Chamber of Commerce,Keller Williams Real Estate
a member of the Delaware Small Business Chamber,
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