Separating from a partner can be an emotional rollercoaster, and often, the practical aspects of separation take a backseat in the chaos. However, a dramatic dash to court isn’t always the solution, nor something we usually recommend. As any solicitor will affirm, court proceedings should be your last option unless absolutely necessary.
Before even considering court, it is essential to seek professional legal advice. Striking a fair and reasonable settlement should be your primary goal. Plus, it’s crucial to understand the rights you’re entitled to and the obligations you have, especially if children are involved. Your first step? Take a deep breath, get to grips with your situation and start negotiating a Separation Agreement with your ex-partner.
So, what is a Separation Agreement?
Separation Agreements are a useful tool for couples navigating the complexities of a break-up. Essentially, it’s a formal document that lays down the rules as you and your ex start leading separate lives.
The agreement will outline the specifics – when you got married or entered into a civil partnership, when you separated, and how you plan to handle matters related to your children, such as their living arrangements and contact rights. Additionally, it will discuss financial matters, including the family home and any capital payments to be made between the parties.
A crucial feature of a Separation Agreement is its provisions concerning inheritance. This section ensures that once separated, your ex-partner won’t have any claim over your estate. It’s always wise, though, to update your will or create one if you haven’t already.
Does a Separation Agreement equal a 50/50 split?
Scottish family law promotes fairness in separation, but fairness doesn’t always translate to a perfect split down the middle. Of course, there are cases where couples can divide assets equally and move on, especially when no kids are involved, both parties are earning, and there’s a mutual agreement to sell the house and share the proceeds. However, these cases are fewer than you might think.
More often, there are children to consider, or one partner might be unemployed. There are other financial intricacies, like pensions, which might need to be split. On top of that, you will need to figure out who has benefited or lost out financially from the marriage or civil partnership. All this means that what might seem straightforward at first glance can get pretty complicated.
If you’re contemplating separation and want to understand your rights and obligations, contact us.