A common law separation agreement is a legal document that outlines the terms of a separation between two individuals who are not legally married. It is essential to have a well-crafted template to ensure that the agreement is legally binding and protects the interests of both parties.
Key Elements of a Common Law Separation Agreement
1. Parties Involved: Clearly identify the parties involved in the separation, including their full legal names and addresses.
2. Effective Date: Specify the date on which the separation agreement becomes effective.
3. Property Division: Outline how the couple’s assets and debts will be divided. This includes real estate, personal property, bank accounts, investments, and credit Card debt.
4. Child Custody: If there are children involved, address custody arrangements, including physical custody, legal custody, and visitation schedules.
5. Child Support: Determine the amount of child support to be paid and how it will be calculated.
6. Spousal Support: If applicable, establish the amount of spousal support to be paid and the duration of the payments.
7. Health Insurance: Specify who will be responsible for maintaining health insurance coverage for the children and, if applicable, for the spouse.
8. Tax Implications: Address any tax implications related to the separation agreement, such as deductions or exemptions.
9. Dispute Resolution: Outline the process for resolving any disputes that may arise in the future, such as mediation or arbitration.
10. Attorney Fees: Specify who will be responsible for paying attorney fees associated with the separation agreement.
11. Entire Agreement: Include a clause stating that the separation agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understandings.
12. Modifications: Address the process for modifying the separation agreement in the future, if necessary.
13. Signatures: Ensure that both parties sign the agreement in the presence of witnesses and a notary public.
Design Elements for a Professional Template
To convey professionalism and trust, consider the following design elements:
Font Choice: Use a clear and legible font, such as Times New Roman or Arial.
Additional Considerations
Legal Counsel: It is highly recommended to consult with an attorney to ensure that the separation agreement is legally sound and protects your interests.
By carefully considering these elements, you can create a professional common law separation agreement template that effectively outlines the terms of your separation.
