Understanding Separation Agreements in NC

If you and your spouse decide to separate, you may want a clear, straightforward, and legally binding document that explains the terms. Some of the important factors that you should cover in this document are child custody, child support, asset division, and more.

You and your spouse may be able to sit down and discuss these factors clearly so that you can draft a document that shows you are both on the same page. If you are able to complete this separation agreement, you will both benefit from some peace of mind during one of the most unsteady times in your lives.

Clearly defining a separation agreement

A separation agreement is defined as “a voluntary agreement between spouses, made during divorce proceedings or formal separation, that may govern issues such as property division, alimony, maintenance, child support, and child custody.” Since married couples typically share property, assets, income, and even children, a separation agreement is usually necessary to answer any unknown questions and make important decisions regarding these elements. Without a separation agreement, couples may become confused about who will live where, what they can take with them, when each will have time with their children and more.

A separation agreement must be completed in writing, agreed upon, signed by both parties and notarized for it to be considered legally binding. When this happens, it becomes an official legal document that must be followed and upheld going forward. Keep in mind that it can be modified and changed with the help of a lawyer.

Is a separation agreement required in Charlotte, NC?

No, a separation agreement is not required in Charlotte or any other city in North Carolina. Instead, a separation agreement is voluntarily created by the couple to give them comfort during one of the most challenging parts of their lives. You can still seek and obtain a divorce without a separation agreement. However, since North Carolina requires couples to be separated for at least one year before seeking a divorce, this legal contract can help you and your spouse better understand what is expected during this 12-month period.

What should my separation agreement include?

You can mention and address a lot in a separation agreement. However, to help you get started, here are six of the most important elements that you should make sure you include:

Child support and child custody: If you and your spouse have children together, including child support and child custody in your separation agreement is a good idea. This usually involves you and your spouse creating a clear plan regarding when your children will spend time with each of you and how much money one spouse may need to give to the other to help pay for the child’s needs. While child support and child custody will ultimately be decided by the court based on the children’s best interests, having this element in your separation agreement may assist with the judge’s decision and make the process smoother.

Asset division: Dividing assets is one of the separation process’s most confusing and complicated parts. This is usually because many couples want to take the items that they have been using or have enjoyed having for years. Costly assets can become points of contention, as can those that have sentimental value to one or both parties. Some items and products mentioned when dividing assets in a separation agreement may include furniture, vehicles, boats, vacation homes, artwork, jewelry, and more.

Alimony: Alimony is another important topic to discuss in a separation agreement. If one spouse needs financial support after going their separate ways, they can write the amount they both agree will be paid and for how long in the separation agreement. When deciding this, some of the factors to consider are whether one spouse makes less than the other, whether one spouse will have children more than the other, and whether one spouse’s standard of living will drastically change once separated.

Debts: While most people only think about which assets and belongings they will take, it is important also to consider debts. Most married couples accumulate debts throughout their marriage. You must think about who will pay which debts, how much they will pay, and for how long. The most common debts mentioned in these agreements are credit cards, mortgages, student loans, and vehicle loans.

Health insurance: If you and your spouse share health insurance, you will both need to decide whether the current insurance coverage will continue, whether a form of payment will now be expected to continue the coverage, or if a new health insurance plan should be obtained. Once divorced, you and your spouse cannot remain on each other’s health insurance plans. You may want to begin discussing this well ahead of time.

Residence: Another vital element that should be included in a separation agreement is your residence. You must decide who will remain in the home, whether it will be sold, or whether one spouse will give up their portion of the home in return for money.

What does a separation agreement mean legally?

A separation agreement is a contract wherein the parties have agreed to resolve certain or all the issues related to marital dissolution. It is important to remember that a separation agreement is not a divorce judgment. A divorce judgment makes you single; a separation agreement resolves issues. We strongly recommend that you not draft your own agreement or use one that you find on the internet. They are typically faulty and can cost one or both parties significantly. If you are unsure about your separation agreement or need to modify your demands and wishes, consult a family law attorney as soon as possible. They will review the separation agreement, determine whether it seems accurate and fair, and help you make any changes or modifications for your future divorce.

What if my spouse violates our separation agreement?

If your spouse violates your separation agreement, you can take legal action against them to either make them comply with the contract or to seek damages for the violation. If your separation agreement ultimately becomes part of the divorce judgment, it is then considered to be a court order, and violation of it may be contempt of court, meaning your spouse can be punished for disobeying the order put in place by the court.

Are you and your spouse thinking about separating? If so, the Charlotte family law attorneys at Epperson Law Group can assist you with creating a separation agreement that fits your needs. Please call our office or submit our contact form to schedule an appointment in Boone, Concord, Charlotte, or Weddington today.