If your relationship is breaking down you may feel like you have no other options other than to divorce. At such times it is difficult to make any hard and fast decisions about the future and it may be worthwhile to consider, as an alternative to a divorce, the drafting of a Separation Deed, Catteralls have a great deal of experience in this area and will help you enter into a Separation Deed.
What is a Separation Deed?
A Separation Deed is a document which sets out an agreement made between both parties, this can address a number of issues such as custody arrangements for your children, maintenance payments, the division of assets and debts, including the matrimonial home and mortgage repayments.
A Separation Deed is not a binding Court order. It is a contract between the separating couple who respectively agree to be bound by the terms of it. Therefore, if one party subsequently fails to adhere to any terms of the contact, it is for the other to enforce the contract by making an application in the County Court for breach of contract.
If after your Separation Deed is agreed, either you or the other party decide to proceed with a divorce, such an agreement could be confirmed by a Court order known as a Consent Order provided that, at the time of the Deed was entered into, both of you had the benefit of legal advice and exchanged full details of your financial circumstances, supported by documentary evidence. However, if the Deed does not reflect a fair settlement of financial issues, or one of the parties no longer agreed to the terms, the matter could possibly be reviewed again if there was, for example, a material change in their circumstances.