If you and your spouse are considering divorce but are not quite ready to pull the trigger, you may decide to separate for a time to figure out what you want moving forward. Separation agreements, while not required in New Jersey, can be beneficial during this tumultuous time and provide spouses with a sense of confidence and security. To learn more about whether this type of agreement can help in your case, reach out to an experienced New Jersey separation and divorce lawyer today.
What is a Separation Agreement?
When it comes to family law, a separation agreement is a document that outlines the terms and conditions when a couple agrees to live separately and apart from one another. This type of agreement is used when a married couple decides to separate but isn’t quite ready to file for divorce.
Separation agreements are not required in New Jersey as the state does not recognize legal separation, but they can still be important and provide protection for both parties. By creating a formal agreement, you can avoid future legal disputes, clarify each party’s rights and obligations, and have a sense of security regarding the terms and conditions of your new relationship status.
What is Included in a Separation Agreement?
Separation agreements can be customized to include any provision necessary depending on the unique circumstances of the couple involved. It can address a variety of important subjects including the following.
- Division of assets: The separation agreement can include information regarding which spouse is entitled to which assets including access to bank accounts, the marital home, other real estate, vehicles, jewelry, and more.
- Allocation of debts: You can also include which spouse is responsible for making payments on which debts, though it is important to keep in mind that debt collectors can attempt to collect payment from either spouse.
- Spousal support: Depending on the specifics of the relationship, one spouse may make significantly more money than the other or one spouse may not have as high of an earning capacity. The separation agreement can stipulate the amount of alimony that one person owes the other and how long they must pay them.
- Child custody: If you and your spouse share minor children you must also include how child custody will work including who is the custodial parent, when you will swap custody, parenting time, and other schedule details.
- Child support: The parent who does not spend as much time with the child will also likely be required to pay child support so the separation agreement can state the terms and conditions of those payments.
- Health insurance/benefits: Most spouses share health insurance policies and other benefits so it is important to include provisions outlining how the arrangement will work moving forward and any necessary changes.
If you are separating from your spouse in New Jersey it is crucial that you explore all of your options including drafting a separation agreement. Contact a skilled family lawyer today for more information.
