Legal Separation Agreement - What should be included in such a contract?
A legal separation agreement is a contract between two parties who have decided to end their relationship. In order to make sure both parties understand what they are getting themselves into, it is best to write out a detailed document.
A legal separation in Oklahoma should cover many topics including visitation rights, child custody, alimony, property division, debt allocation.
1. Visitation Rights
Visitation rights refer to how often each parent can see their children. If you are planning on divorcing, it is best to discuss visitation rights before signing anything.
2. Child Custody
Child custody refers to how often each parent gets to spend time with their children. There are different types of child custody arrangements.
• Joint custody means that both parents share decision making about the care of the children.
• Shared physical custody means that each parent shares the responsibility of taking care of the children physically.
• Sole custody means that only one parent takes care of the children.
3. Alimony
Alimony is money paid to a spouse after a divorce. It is meant to help them pay off debts, maintain a home, and provide for their future. You can decide if you would like to receive alimony or not. If you choose to receive alimony, you will need to sign a free separation agreement stating that you will continue to pay it until you die.
4. Property Division
Property division refers to how assets are divided between the spouses. Assets can include real estate, cars, bank accounts, retirement funds, and any other items owned by either party. While dividing these assets, it is important to take into account the amount of debt each person owns.
5. Debt Allocation
Debt allocation refers to how much of the total debt each spouse will be responsible for paying. Each spouse should be held accountable for their own actions. If one spouse was irresponsible with spending money, they should be held liable for the consequences.
If you are going to get divorced, it is best to do everything possible to avoid having to go through a court battle. If you are not able to work things out without a judge, then you may want to consider hiring a lawyer.
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Carl writes often about legal drafting, rental lease agreement, marital separation agreement and help the people in such needs.