You may have separated from your husband or wife and may not yet be ready to issue divorce proceedings. It may be that you do not wish to go down the route of blaming the other party and so have decided, between the two of you that divorce proceedings should be issued once you have been separated for two years. By doing this no one has to blame their spouse for the irretrievable breakdown of the marriage as stated in the grounds for divorce.
You can of course leave divorce proceedings for two years but it is sensible to sort out any financial issues in the meantime. The best way of doing that, if matters can be agreed, is to set out the agreement in a separation agreement. In a separation agreement you would agree how the assets are to be divided up, whether there should be any maintenance payable and you can also set out arrangements in relation to your children.
Although separation agreements are not court orders and there is no guarantee that they would be legally binding, the court would still be persuaded by a separation agreement if there was an issue at a later date. However, that is only if legal advice has been taken by both parties and there has been full disclosure of your financial positions at the time your signed the agreement.
A separation agreement is always an option to be considered but as the name implies, only if agreement can actually be reached.
If you would like to discuss a separation agreement with one of our family law solicitors please contact us and we’ll be happy to help you.