Separation agreements

[Cyclingmum212]

X wants us to do a separation agreement. Are they worth it? Are they legally binding?

My husband wanted to go down this route instead of divorcing but I was advised by my solicitor that divorce with a financial consent order is a much better option.

Separation agreements are not legally binding but instead have legal weighting and further down the line a judge could go against what had been agreed (although only if there was a really good reason to). My solicitor said they are a good option if you need to make decisions quickly for example the house needs to be sold immediately but that a consent order at divorce is the only way to provide complete protection and peace of mind.

Thank you. We're not ready to go down the divorce route yet so this may be an option but I don't see the point of paying solicitors so have found a template on line.
Good to know they are not legally binding. Hopefully it will keep him happy but I don't know need to worry what's in it.

They have legal weighting so you definitely need to get legal advise from a solicitor before agreeing anything and signing a separation agree. It may cost a bit now paying a solicitor but it could be far more costly by agreeing to something without property advise first.

My solicitor said if we went down the separation agreement route we should exchange 12 months financial info, get pension valuations, house valuations income/expenditure details now and forecast for the future etc. before trying to agree anything. Then it was vital to get both solicitors to look over it to see if what is being proposed is fair. Do you have children, many assets, debts etc.?

I have one as neither of us were ready to divorce and I wanted some kind of security for me and DC regarding the house and maintenance payments. I did want it done properly though so paid for proper legal advice rather than risk doing it myself. My solicitor said it can be used as a basis for the divorce later on and it does have legal weighting, so it gives me some peace of mind. Our split was fairly straightforward though so I imagine it might not be as useful in more complex cases.

They do carry weight so you do have to worry about what’s in it
yrs they can be set aside but don’t just sign anything on the basis that it automatically will be …..

My ex is being difficult about giving me enough equity to buy another house for me and the kids. He's agreed to it if I agree to give him some money back when I have it. I'm not happy with that but I just need him to give me enough equity to get a house for me and the kids. He's agreed to enough maintenance.

Once I am in my own place, I am hoping I will feel stronger to divorce him and get things completely sorted. But at the moment I'm not. I am reasonably confident that I will not lose out at court as there has been emotional abuse, controlling behaviour and one instance of physical abuse on DS. He also earns 30% more than me.

How much as overall % of equity ( other assets?) are you expecting and is that a ‘fair and reasonable ‘ settlement ( fir moth parties ?)

Please don't agree to anything or sign anything without property legal advise.

I need 60% to buy a 3 bed house for me and the kids. With his earnings and 40% equity he will have the same as me to buy somewhere but kids don't want to live with him so he only needs somewhere for him. Kids are 16 & 17.

Don't forget pensions can be a bigger asset that equity

Well you’d be better to divorce now
yiur children will soon be discounted from both cms and as needing to be housed with you so soon you’ll only need a 1 bed …. When they are 18

your ‘needs’ drop in a year or two…..

I would divorce sooner rather than later with DC that age. Maybe worth getting your own advice from a Solicitor or Citizens Advice.

That's why I need to get the house now so the kids will have somewhere to live. They are both still in education so not in a position to move out for several years.

He will make the divorce messy and drag it out until eldest is 18. I'm not interested in his money, I just want enough to get a home for me and the kids.

I am reasonably confident that I will not lose out at court as there has been emotional abuse, controlling behaviour and one instance of physical abuse on DS

None of this will be taken into account in a court when discussing financials.