A Separation Agreement is a contract that parties enter into at end of their relationship.
The Separation Agreement is also referred to by the following names:
- Divorce Settlement Agreement
- Separation and Property Settlement Agreement
- Custody, Support, and Property Agreement
- Mediated Separation Agreement
- Collaborative Settlement Agreement
- Matrimonial Property Agreement, and
- Marital Settlement Agreement
The purpose of the separation agreement is to record any agreements reached between divorcing (or separating) spouses as to parenting (as known as child custody arrangement), child support, spousal support (also referred to as alimony or maintenance), and division of property and debts.
Separation agreement can be an effective and inexpensive way of settling the above matters. However, the legal requirements of the separation agreement must be met. Such as, the Separation Agreement must be in writing and signed by both parties and is witnessed. Most importantly if the divorce agreement deals with division of property then each spouse must obtain a Certificate of Independent Legal Advice if you would like the agreement to be enforceable in Alberta.
Contact our family lawyers to ensure that the terms of the agreement are fair and provides you with adequate financial resources.
