A separation deed is a legally binding contract between you and your partner setting out how you are going to divide your finances. Separation deeds suit a variety of people and circumstances for example you might not be married but want an agreement recording how you spilt your joint assets at the end of a relationship. Another common scenario is where neither party feels that the have grounds for divorce but they wish to record how they intend to divide the martial assets and create a clean break. It is also a quick way of legally recording your matrimonial settlement allowing you to move forward and divorce in the future once you have been separated for two years.
The agreement is voluntary so you must be able to agree what goes in the document as no one can be forced to sign. If you are unable to reach an agreement between yourselves, at mediation, or through solicitor negotiation, your solicitor will be able to advise on alternative courses of action.
A Separation deed won’t end your marriage, it will simply and legally record how you have divided your finances preventing either of you from changing your mind about what was agreed at the time of signing.
At Family Law Consultants your solicitor will take full details of your agreement. Confirm that agreement with your partner and then prepare a bespoke agreement for you both to sign.
For further information see page 9 of our downloadable guide to “Divorce & Separation”