A separation agreement outlines the terms for separating a married couple. It helps both parties avoid stress and the expense of a lengthy court process. If you and your spouse decide to live apart, this agreement lets you define how things will be handled during your separation, before the divorce finalizes.
Custody and visitation arrangements
One of the most important parts of a separation agreement determines how you and your spouse share custody and visitation of your children. This section clearly defines who the children live with and how often the other parent has visitation. The arrangement can adapt to the children’s needs. It may also cover decision-making responsibilities, like education and healthcare, ensuring both parents stay involved in major choices.
Property division and debt allocation
A separation agreement specifies how property and debts divide between you and your spouse. In Virginia, property divides based on the principle of “equitable distribution,” meaning fair but not necessarily equal. The agreement lists items such as the family home, vehicles, bank accounts, and personal belongings, then decides who gets what. It also assigns responsibility for debts like mortgages, credit card balances, and loans.
Spousal and child support
Another significant section of a separation agreement outlines spousal and child support responsibilities. This part details the financial obligations one spouse has toward the other or toward the children. Child support calculates based on Virginia’s guidelines, while spousal support, or alimony, often gets negotiated and can be temporary or permanent based on the circumstances.
Other important details
Your separation agreement can cover other aspects like healthcare insurance, tax filing status, and the use of the marital home. These terms reflect your needs and preferences, ensuring both parties agree on how to proceed.
Virginia requires both parties to sign the separation agreement, making it binding. You must ensure the terms are clear, fair, and meet your needs before signing.
