Separation & Finance
When a relationship breaks down, arrangements for custody/contact and residence with any children must be agreed.
Even in an amicable split, difficult decisions must be made about the care and welfare of children.
A Separation Agreement can be a significant step in ensuring as a relation breaks down, any children involved are protected and cared for in the best way. This could include prioritising assets in an agreement on residing at a family home for example.
What Should A Separation Agreement Include?
The scope of a separation agreement is broad to make sure everything that might be required to regulate the end of a relationship can be included. Although we can't possibly cover everything here, some examples might be:
- Who stays in the family home/arrangements for its sale or transfer.
- Arrangements for what happens to cars and other significant purchases.
- Distribution of debts, investments and savings.
- What should happen in the event one party dies.
- Childcare arrangements.
- Repercussions should one party break the agreement.
As can be seen, separation agreements can cover just about anything, be it an immediate issue or future possibility. Get in touch for more information tailored to your situation.
What Happens If One Person Refuses To Sign A Separation Agreement?
Ultimately, if your partner, or ex-partner, refuses to sign a separation agreement, this option may not be for you. However, our solicitors have good experience in mediating situations towards an agreement by satisfying both parties that they are in a better and more stable position than they would be without a separation agreement.
How Do You Split Finances During A Separation?
Splitting finances during a separation is more straightforward if you can come to an agreement outside of court. This is especially true for couples who are not married nor in a civil partnership, as each party has fewer rights in that situation.
Firstly you will need to consider the state of your shared finances, including:
- Any assets or debts you have.
- Any home you are/were living in.
- Arrangements for any children involved.
- How to split anything you own together.
You may be able to come to an amicable and fair agreement without the help of a solicitor however, to ensure this agreement is legally binding there are legal requirements to be met. If you are looking to make your agreement legally binding and conclusive, or you cannot come to an agreement and require mediation or think you might want to make a claim or defend a claim against your ex-partner, speak to one of our solicitors today.
What Are My Financial Obligations During A Separation?
Your financial arrangements vary significantly on a case-by-case basis. For example, if you have a joint tenancy or mortgage, you are still responsible for payments. If any loan has been taken out in your name, partly or solely, you are culpable for missed payments. Similarly, where any children are involved, you are responsible for ensuring they receive a good standard of care.
Whatever your individual situation might be, it is vital you know what your obligations are. Speak to our team today for reliable legal advice on what you can expect to pay.
Make A Free Enquiry
Kee Solicitors are a specialist family law firm and are here to help you with any questions.