A separation agreement is a written document that divides property between the parties. This property includes assets and debts and physical property. It also may address spousal maintenance and child custody arrangements. Drafting a separation agreement in Colorado Springs can be an overwhelming and emotional task as this signifies the end of your relationship. Fortunately, our caring team of attorneys could help you through it.
When drafting a separation agreement in Colorado Springs, it must meet certain requirements to receive approval by the court. To approve a separation agreement, the court must find that the separation agreement is not unconscionable. Basically, that means that the court must find that the division of assets and debts between the parties are fair and equitable. It is important to note that the division does not have to be an equal distribution, but just an equitable distribution.
Additionally, the other requirement would be that the agreement ultimately must be a written document. Parties may enter into oral agreements regarding their separation but that would ultimately have to be put into a writing and made an order of the court. A court can invalidate a separation agreement if they find that the separation contract in unconscionable.
Separation agreement can be modified or altered, but once it is accepted and made an order of the court, changes cannot be made to it. Typically, separation agreements are incorporated into the Decree of Dissolution of Marriage. When the incorporation happens, the separation agreement is no longer an enforceable contract, but it now has other enforcement remedies available such as contempt.
Both parties must fill-out their sworn financial statements and provide disclosures. Disclosures are proof of what they stated in their financial statements. These will be bank statements, credit card statements, mortgage statements, tax returns, etcetera. In Colorado Springs, the sworn financial statements would be the starting point for preparing the separation agreement. Then negotiations over the agreement may commence. Negotiation can happen between the parties directly or through attorneys or a mediator. How negotiations go often depends on the complexity of the separation agreement issues at hand and the willingness of the parties to cooperate.
When drafting a separation agreement in Colorado Springs it is best to retain a skilled attorney. One of our experienced team members could examine all of the date from the financials of the parties and prepare a clear separation agreement that divides the assets and debts of the parties equitably.
A lawyer can also help review the separation agreement before presenting it to the court to see if the agreement is unconscionable. The goal is going to be important if you want the court approve the agreement and incorporate it into the Decree of Dissolution of Marriage. To get started on your case, call our office today.