What Is Involved in a Separation Agreement?
When you and your spouse have decided to separate, then sometimes filling for a separation is the way to go. However, many of NJ Divorce 299.com clients call us unsure of what the procedure is. So if you live outside of the Jersey City, NJ area, and need more clarification on this process, please read on. A separation agreement is an arrangement where a husband and wife will live separately and still be married.
The separation agreement will be a document which is binding and outlines all the terms of this arrangement. Issues which are often addressed range from how much spousal or child support needs to be paid, how financial responsibilities must be handled, and how property is divided.
A separation agreement is a document designed to make sure each spouse adhere to their obligations when they are apart. A huge concern for most separating couples will be the financial support for the individual that has no resources and the one that will be the primary responsibility of caring for children should there be any. It is not uncommon for these agreements to address such issues separately and explicitly. The agreement must state exactly how much needs to be paid, by whom, and how often the payments need to be made.
This kind of agreement will sometimes address how joint financial responsibilities are to be handled. This may or may not be handled the same way as when a couple was living together. For instance, the household bills used to be divided equally. Now one spouse is living somewhere else, perhaps their contribution towards certain bills, like mortgages or home insurance, is reduced to 25% and their contribution towards others like electricity and maintenance ceases.
If you and your spouse are thinking about a separation and need help sorting out all the finer details, then you need to call us first today at (973) 954-3200.