Separation agreements are written contracts between spouses that permit the spouses to live separately from each other and settle rights of marriage including
- Property distributions such as marital residences, pensions, additional real or intangible property
- Child custody
- Visitation
- Child support
- Spousal support prior to divorce
- Maintenance (alimony) after a divorce
- Tax concerns
It is often used as a tool to settle issues of divorce without the time or expense of a trial. When executed during divorce litigation, a separation agreement is often referred to as a Stipulation of Settlement or Settlement Agreements.
The parties are given tremendous flexibility to settle marital issues but the agreement must still comply with applicable laws. As with any contract, a party seeking to prohibit enforcement of the settlement agreement can assert defenses such as fraud, duress, coercion or incapacity.
