If you and your spouse are going to separate, or you have already separated, you may have questions about how to resolve the financial and support issues that come with that transition.
Without a premarital or prenuptial agreement, there are generally two paths for resolving those issues: a private agreement or a lawsuit.
Two Ways to Resolve Separation Issues
You and your spouse can execute a private contract called a separation agreement and property settlement. Or, you can file a lawsuit and a court will eventually decide how to resolve the issues related to your separation.
What Is a Separation Agreement and Property Settlement?
A separation agreement and property settlement is a private contract. It gives both sides an opportunity to agree on how to address money issues and support issues rather than asking a court to make those decisions.
Why Separation Agreements Can Be Attractive
Separation agreements can be attractive because they can be cost effective. You are not spending a lot of time going to court, and you have more control over your financial future because you are not asking a judge to decide it for you.
When a Separation Agreement Can Work
These agreements can become complicated, but they can work wonderfully when both sides agree. A private agreement can offer a practical path forward while allowing the parties to make decisions together.
Talk With McKnight Law About Your Options
If you have questions about separation agreements or how to resolve the issues related to your separation, McKnight Law can help you understand your options and determine the best path forward.
Watch the video below as McKnight Law explains why a separation agreement may be an attractive alternative to going to court.
