No one plans on being in this situation, but a separation agreement does not need to be a contentious event. With our help, we can make this transitional phase a little easier.
What to Consider
Separation agreements are not only for married couples, they are also for those in common-law relationships. When you separate without a prior family agreement, all debts and assets accrued until the end of the relationship may be up for division. Also keep in mind the likelihood of spousal support, and child support if there are youth involved.
5 Steps to Streamline your Agreement
- Decide to separate. If you or your spouse announce the relationship is over, that is considered the separation date. You are separated prior to the completion of the separation agreement.
- Have a detailed list of you and your spouse’s complete assets as well as debts. Whether they are in one, or both of your names, they need to be included on the list. Have the amounts be current up to the date of separation. Items that are considered assets are real estate, investments (RRSPs, TFSAs, etc.), businesses, vehicles, and pensions. Debts are mortgages, lines of credit, student loans, personal loans, etc.
- Keep good communication lines open. If you cannot effectively communicate with each other, you will likely need either mediation or litigation. Both of which have a much higher price tag than just needing a separation agreement drafted.
- Have open and reasonable discussions about what each of you would like to keep, transfer, or sell.
- Each of you should have your own lawyer. While only one party needs the agreement created, the other should also have independent legal advice before signing. It is the best way to ensure an enforceable agreement. Here at Freedom Family Law, we are happy to help either by drafting, or giving independent legal advice.
Advantages of Online Separation
Freedom Family Law is a 100% remote law firm dealing exclusively with family law agreements. It’s our specialty. We take you from our initial call, all the way through to signing, without ever needing to set foot in an office. Due to our overheads being much lower comparatively, we are passing the savings on to you with our reasonable prices. If you are ready for the next step, click here to book an initial call with one of our team members.