Separation Agreements
|
A separation agreement
is a legally binding contract created between two spouses, whether married or common-law, at the time of their separation. This contract sets out each party’s rights and obligations on issues such as child custody/access, property division, debts, child support and spousal support.
|
Although it is not required that a lawyer or a lawyer-mediator prepare a separation agreement, it is strongly recommended. Many individuals, in an understandable attempt to save legal fees, attempt to prepare their own agreements. If the agreement has been signed both by the parties and witnesses and dated, you have a ‘legal’ agreement. Often, however, these ‘homemade’ agreements do not stand the test of time. If one (or both of the parties) are dissatisfied with parts of the agreement (or the agreement as a whole, for that matter), the individual can go to court and ask that the agreement be set aside. The chances are greater that an agreement will not be honored by the Court if it has not been prepared by a legal professional.
In short, the short term financial gain of a homemade agreement can often result in long-term financial pain, if the agreement has not been properly prepared.
In short, the short term financial gain of a homemade agreement can often result in long-term financial pain, if the agreement has not been properly prepared.
FAQs about Separation Agreements
|
|
Do I need a separation agreement to be 'legally separated' in Ontario?
A couple is separated when one of the parties (or both, for that matter) decides that the relationship is irreconcilably over. A decision to separate does not have to be put in writing.
This being said, however, there are government agencies that require some tangible proof that a couple is in fact separated (just for example, the Canada Revenue Agency). This proof can take a variety of forms, including a separation agreement. Without a separation agreement or a court Order, convincing various authorities that you are in fact separated can sometimes prove troublesome. |
|
|
How much does a separation agreement cost?
Lawyers generally do not have a set price for the preparation of a separation agreement; they will charge for their time. The time spent will vary on the nature and complexity of the issues. For example, if the parties have not accumulated significant assets during the course of the relationship, or if there are no children, a separation agreement will be much shorter in length and much easier to prepare. If all is straightforward and there is little disagreement between the parties, a simple separation agreement could cost in the range of $1,000.00 to $1,500.00.
Blake's hourly rate for preparing a separation agreement is $300.00. Laura's hourly rate is $200.00. |