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Separation Agreements

Separation Agreements

When a couple decides to separate, it often marks the beginning of a complex emotional journey. A well-drafted separation agreement can provide clarity and structure during this challenging time.

What is a Separation Agreement?

A separation agreement is a legally binding contract between spouses who decide to live apart. A separation agreement does not necessarily lead to divorce but can set the stage for a more amicable dissolution of marriage in the future. This document outlines the terms of the couple's separation, addressing various important issues.

Separation agreements are widely recognized and can be enforced in court, provided they are properly drafted and executed. Upon separation, couples may face various decisions regarding child custody, distribution of assets, and financial support. This is where a separation agreement can serve as a powerful tool to clarify roles, responsibilities, and expectations.

What does a separation agreement contain?

Child Custody and Visitation

One of the most significant aspects of a separation agreement is the arrangement of child custody and visitation. Parents must discuss and determine where the children will live, how much time they will spend with each parent, and any special considerations that may be necessary. A well-drafted agreement will define physical custody (where the child lives) and legal custody (who makes decisions on behalf of the child).

Child Support

Alongside child custody, child support is often a key area outlined in the separation agreement. In North Carolina, both parents are obligated to contribute to their children’s upbringing. The agreement may specify the amount of child support, payment frequency, and guidelines for adjustments based on income or other circumstances.

Asset and Property Division

Separation agreements typically address the division of marital property and debts. North Carolina is an equitable distribution state, meaning assets acquired during the marriage are divided fairly, though not necessarily equally. Couples may choose to outline how they intend to divide their property, including real estate, and bank accounts.

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