An informal separation agreement, while not legally binding in the same way as a formal divorce decree, can serve as a valuable tool for couples who wish to amicably resolve their relationship without involving the court system. By outlining the terms of their separation, including child custody, property division, and financial support, couples can create a clear and concise document that provides a framework for moving forward.
Essential Elements of an Informal Separation Agreement
When drafting an informal separation agreement, it is essential to include the following elements:
Identifying Information
Names of the Parties: Clearly state the full names of both parties involved in the agreement.
Date of Agreement: Indicate the date on which the agreement is being executed.
Recital
Purpose of Agreement: Briefly state that the purpose of the agreement is to outline the terms of the parties’ separation.
Terms of Separation
Child Custody: If applicable, specify the custody arrangements, including physical custody, legal custody, and visitation schedules.
Child Support: If applicable, outline the child support obligations, including the amount to be paid and the method of payment.
Property Division: Describe how the parties will divide their assets and debts. This may include real estate, personal property, bank accounts, and credit Card debt.
Spousal Support: If applicable, detail the spousal support arrangements, including the amount to be paid, the duration of payments, and any conditions attached to the payments.
Financial Disclosure: Require both parties to provide a complete and accurate financial disclosure, including income, assets, and debts.
Mediation or Arbitration: If applicable, specify whether the parties agree to resolve any disputes through mediation or arbitration.
Attorney Fees: Address the issue of attorney fees, including who will be responsible for paying their own attorney fees.
Waiver of Claims: Both parties should waive any future claims against each other, including claims for alimony, child support, property division, and emotional distress.
No Contest Clause
Agreement to Be Final: Include a no-contest clause stating that the agreement is final and binding and that neither party will contest its terms in court.
Severability Clause
Validity of Remaining Provisions: If any provision of the agreement is found to be invalid or unenforceable, the remaining provisions should remain in full force and effect.
Merger Clause
Complete Agreement: State that the agreement constitutes the entire agreement between the parties and supersedes any prior or contemporaneous agreements.
Choice of Law
Governing Law: Specify the state law that will govern the interpretation and enforcement of the agreement.
Signatures
Signatures of Parties: Both parties should sign the agreement in the presence of witnesses, who should also sign the document.
Design Considerations for a Professional Informal Separation Agreement
To create a professional and trustworthy informal separation agreement, consider the following design elements:
Clear and Concise Language: Use simple, straightforward language that is easy to understand. Avoid legal jargon that may confuse the parties.
Consistent Formatting: Use consistent formatting throughout the document, including font size, line spacing, and margins.
Professional Appearance: Choose a professional font and layout that conveys a sense of professionalism and credibility.
White Space: Use white space effectively to break up the text and make the document more visually appealing.
Headings and Subheadings: Use headings and subheadings to organize the information and make it easier to navigate.