Separation agreement without a divorce

lionel_hutz

after a marriage breakup me and my wife remain on good terms and have both agreed we don’t want a divorce but from both our parts it’s important we split the finances fairly.

We have agreed on a fair split and are thinking of using a prepared separation agreement template (from the law depot) then we will both take legal advice on and countersigned by solicitors.

Is there anything else we should be looking out for?

caprikid1

I was in exactly the same position.

Ultimately Separation agreements can cost as much as an amicable divorce.

I took legal advice and the fact that a separation agreement was not water tight made me chose a divorce. A judge will look at them but if they think there is any unfairness they can over turn them.

It's all amicable till the new relationships start, much younger , much prettier , much richer other half… or not helping with kids etc.

The marriage is over, if you decide to get back together make a new commitment but get divorced.

caprikid1

I should add 10 years down the line still being married would be a 100% red flag to any new partner and moving forward with your life, not sure why anyone would want that.

Incidentally it made no difference, we still get on well , deal with kids matters etc.

gwynlas

You need to make wills if not already having done so. If there are young children involved then you need to name guardians should something happen to either of you. Also are you named as beneficaries on pension arrangements?

I know you have agreed a amicable split but it does seem strange to remain married unless there is some hope of future reconciliation

lionel_hutz

We wouldn’t rule out reconciliation hence no divorce…while it’s still unlikely we both respect the others wish for no divorce and although it isn’t the norm we have always got on well since the breakup.

We want to do the financial split so my ex can get herself a property and also to remove the risk of potential disagreement's down the line over money.

poseidon1

Might make sense to fully acquaint yourself with the nuanced differences between divorce and separation bearing in mind your primary goal seems to be the severance of the relationship purely from a financial perspective.

You may find a mere separation agreement does not have quite the same effect as a 'clean break' divorce - see below -

https://www.taylor-rose.co.uk/posts/reasons-to-stay-separated-not-divorced

https://judgelaw.co.uk/divorce-family-law/separation-agreement-uk/

https://www.napthens.co.uk/insights/marriage-separation-agreements-guide/

Albermarle

https://forums.moneysavingexpert.com/discussion/6684472/separation-agreement-without-a-divorce

We have agreed on a fair split 

We have seen in other threads that many peoples understanding about money, personal finance, pensions etc is rather poor. So what seems like a fair split to the couple, may not actually be so when someone more experienced looks at the situation with a more forensic eye. This is of course may not apply to you, but something to be aware of.

MEM62

We want to do the financial split so my ex can get herself a property and also to remove the risk of potential disagreement's down the line over money.

For as long as you are married that risk is there. Be under no illusion, things might be amicable now but there is considerable risk in staying married and not finalising your financial position.

VyEu

Separation agreements aren't binding in the same way as consent orders on divorce (financial remedy) so in theory they can be re-opened. The agreement should also be fair and with full and frank financial disclosure.

Separation agreements by consent cost, in my experience, as much if not more than consent orders on divorce.

Unless there's a real reason to stay married, divorce is your friend not your enemy

caprikid1

https://forums.moneysavingexpert.com/discussion/comment/82148222#Comment_82148222

What is the difference in your earnings and wealth etc ? Are they aligned. Pensions ?

You seem to be of the view that divorce prevents reconsilliation , if anything it allows you to draw a line under the old now failed relationship.