If you are considering a separation, you must consider the financial impact of the decision. Whether you want a divorce, want to solve financial problems outside of the courts, or separate without divorce, a separation agreement is advisable. In very rare cases, “judicial separation” or “legal separation” is used for persons who do not divorce or do not wish to break up their partnership or who cannot do so for religious reasons. When a couple decides not to live together anymore, they separate. Separation can be done in the same house if a group starts sleeping in the reserve room, for example. Often, however, one of the parties finds another accommodation. It is separation and the date of separation is a fact and is traditionally determined when the parties cease to live together as a man and a woman. On the other hand, divorce is the legal end of a marriage through a legal petition. This is a formal procedure that, once completed, allows the parties to remarry.
In the end, if no agreement can be reached and the parties have to go to court to settle the cases, then it is likely that you will have to appear before the court and evidence in the areas that are in dispute. Even if the house is the sole property of one, the other is legally allowed to remain there with occupancy rights. Life at home can become very difficult once the parties have decided to separate. A separation agreement can be used to address a number of important issues in the event of financial separation. Among other things, it can be used to establish a legally binding agreement on the following: once both parties have a clear idea of the value of assets and liabilities, they meet with their lawyer to discuss how they want to proceed and whether there are reasons for unequal distribution. Once the lawyer has given instructions, negotiations can begin. These may take the form of letters between lawyers and/or a meeting between the parties` lawyers with or without the parties actually present. The best possible outcome is that the parties reach an agreement so that they do not have to go to court. Once an agreement has been reached, one of the lawyers will draft a minute of the agreement, which will then be adopted between the lawyers, until both parties have reviewed and negotiated and are satisfied with its terms. If you and your partner are married, you can separate by an informal agreement. You must inform some or all of the people mentioned under the title Who when your marriage ends.
You may have a legal responsibility to say: divorce can be an expensive option and the only benefit of a divorce lawsuit, instead of dealing with issues through a separation agreement, is that, after divorce, you can marry freely. A separation agreement, carefully drawn up and signed by the parties, will give the parties financial independence and may also detail the current contact agreement for the child or children. Marital patrimony is defined as an asset that is in place after the date of marriage and before the date of separation. A business that started during this period is therefore covered by this definition and must be evaluated and its value must be taken into account when allocating marital assets.