Separation by Agreement
Some parties prefer not to divorce but to separate and divide the assets on separation. This type of separation is not the same as a Judicial Separation which is a legal form of separation for specific circumstances.
Where two people in a marriage agree to separate, they may enter into a Deed of Separation to record their agreement as to how the assets should be divided or when they wish to be divorced. Both parties should be separately legally advised and there should be full financial disclosure. If and when the parties decide to divorce, the terms of the Deed of Separation may be used as the final Consent Order in the divorce process.
The Consent Order is the document that sets out what the financial agreement was on separation and is sent to the court for approval. The Consent Order then becomes the final order in the divorce process.
To discuss this matter in further detail please contact Patricia Young by clicking on the free consultation box in the left hand menu to make an appointment or discuss your needs.