Reasons Why You Should Have a Separation Agreement in DC
If you are thinking about separating from your spouse, it is a good idea to contact a Washington, DC Divorce lawyer to discuss whether a Separation Agreement (also called Separation and Property Settlement Agreement or Marital Settlement Agreement) is right for your situation.
Whether your situation is complicated and there is very little agreement on the issues or it seems simple, a Separation Agreement may still be a good option for you. It can provide protection for so your financial assets and can establish a parenting plan for your children. A consultation with a DC Divorce lawyer will assist you in deciding if a written agreement between you and your spouse would be helpful in your situation.
What is a Separation Agreement?
A DC Separation Agreement is a binding contract between you and your spouse that addresses all the issues that have arisen out of your marriage. It is a way to resolve the issues in an amicable way.
You may decide to divorce after resolving the issues in a Separation Agreement or you may remain married for a period of time after signing an Agreement. In either event, it will provide you with peace of mind that the issues arising from your marriage and separation are resolved.
What issues are covered in a DC Separation Agreement?
A Separation Agreement in DC will cover all issues that are important to you and your spouse and all issues that require a resolution under the law.
If you have children:
- The Separation Agreement will include a parenting plan to resolve child custody and custody schedules.
- The Separation Agreement will also include a determination of whether child support is necessary and how you and your spouse will share expenses for your children.
- The DC Separation Agreement will lay-out a path forward for amicably co-parenting your children in a way that provides for the best interests of your children.
A DC Separation Agreement will address financial matters such as an equitable division of marital property, spousal support, health insurance, division of retirement accounts and pensions, and many other issues specific to your situation. Until you formally resolve the financial division of assets, marital property continues to accumulate. It is important to understand that even if every account, every asset, and all debts you and your spouse have are titled separately, an asset or an account may still be marital property.
A conversation with a DC Separation Agreement lawyer will clarify which of your assets are marital and which are separate.
You will also be able to ask questions related to child custody and how to arrange a co-parenting schedule that both you and your spouse can live comfortably with.