Both have been open and honest about your finances, have sought independent legal advice on the agreement, and have taken various protective measures, it may be difficult for you to argue in court that you should not comply with it. A physical separation can certainly give each spouse the time and space to decide whether the marriage can or should be saved. By answering a few simple questions, our intuitive form builder creates a tailor-made marital separation agreement tailored to your specific needs. If you divorce, there will be no going back. Body breakups can also be easier for your children, because you stay married and it doesn`t sound as devastating and definitive as a divorce. Divorce and legal separation have similar effects in many ways. A divorce and legal separation without a break in body creates a space between you and your spouse. They live separately. Your finances are separated. Custody, maintenance of children, division of matrimonial property and debts, and maintenance of the spouse (called alimony in the event of divorce) are all ordered by the court.
While you can specify in the agreement how you want to share the desired assets, you don`t need to list all the items you both own unless you want to. It is enough simply to list the items with a significant monetary or sentimental value. Small frills should not be included unless you just want to be deepened or one of the spouses really takes care of them. The agreement stipulates that all assets not expressly listed remain in the hands of the spouse who physically owned them (if it is a tangible asset such as a boat or animal) or documented property rights (if it is an intangible asset such as a bank account or a share). One of the most important things you will get in your agreement is to decide how to allocate the assets and debts that you or your spouse acquired during the marriage. As a rule, property received before marriage or after separation is kept by the original individual owner. However, you can choose to divide your property in any way, whether you are in possession collectively or individually. If you own a house together, this is often the greatest fortune to share. . . .