When Realtionships Break, Decisions Need To Be Made
Relationships break down. When they do, many decisions need to be made, most importantly, a separation agreement should be created. For example, How are we going to divide assets? Where are the children going to reside? How much support is payable? Foote Law can help you navigate through these confusing and stressful times while protecting your interests and advising you of your rights and obligations under the law. Foote Law helps families work through the details while preserving the dignity and respect of all.
What Is A Separation Agreement?
A Separation Agreement is a binding contract between spouses that outlines the terms of their separation. The agreement can cover issues such as parenting, child support, spousal support, and the equalization of property process. This agreement can help couples avoid going to court if they decide to separate.
Do I Need A Separation Agreement?
If you and your spouse are on good terms and can communicate effectively, you may be able to draft your own terms and then have it reviewed by a lawyer. However, if there is any conflict between you and your spouse, it is best to have a lawyer draft the agreement to ensure that it is fair and binding.
A Separation Agreement is a contract between spouses that details how they will live apart and handle financial matters. Having this contract in place can make your separation and/or divorce simpler and faster by resolving these issues before you even file for divorce.
If you have children, this agreement can also spell out which parent will claim them as dependents on their income tax return. And if you own property together, the agreement can detail who will live in the house and who will make the mortgage payments. A well-drafted Separation contract can save you time, money, and stress down the road.
Is A Separation Agreement Required In Ontario?
Ontario law does not require separating couples to sign a Separation Agreement. However, many couples choose to do so to formalize the terms of their separation. This agreement can cover a wide range of topics, such as parenting, child support, spousal support, and the equalization of property process.
These contracts are particularly useful when separating couples have children together, as they can help to establish a parenting plan that outlines each parent’s roles and responsibilities. Separation Agreements can also help to prevent future disputes by setting out clear expectations and rules for the separated couple.
If you are considering entering into a Separation Agreement, it is important to have the agreement prepared and/or reviewed by a the Family Law team at Foote Law, before you sign it. This will ensure that the Separation Agreement is fair and legally binding.
Feel free to reach out to us if you have more questions, or check out our FAQ page for more information.
You can also learn more on whether you require an agreement in Ontario by reading our post What is a Seperation Agreement.