Separation Agreements And The Issues That May Arise

By Staff Writer

There are some basics to separation agreements that need to be very clear in terms. Here are some of the different aspects of your life that separation agreements should cover. The number one question relates to your joint bank account; how will you share your money?

The next most pertinent question is, how will you deal with your joint credit cards? More importantly, how will you deal with your joint debts? It's very important to consolidate or pay off your debts as much as possible and establish credit under separate names, so that neither party can affect or destroy the other's credit rating.

Another basis issue to address is, who will remain in the home? What plans are being made for separate residences, and if there is a house with a mortgage, how will this mortgage be dealt with? You may wish to move out of the family home and sell it altogether, or at least refinance the mortgage under the sole name of the new occupant.

Separation Agreements and Child Custody
The most difficult negotiations in divorce are often concerning children. How will you share responsibility for your children, and where will they live? Who will pay child support, and will there be alimony? Calm and practical discussions about spousal support, child custody and visitation will prevent a child custody battle later on down the road.