Deciding to separate is one of the most difficult life transitions you can face. While the emotional toll is significant, the legal process doesn’t have to be a mystery. Well-crafted separation agreements in Calgary are the most effective tool for resolving your differences outside of a courtroom, providing you with the finality and structure needed to move forward.
At BDL Family Law, we focus on drafting separation agreements that are robust legal contracts that protect your rights and provide long-term peace of mind.
Why You Need a Written Separation Agreement
In Alberta, a verbal agreement or a handshake is not sufficient to protect your interests, especially regarding property and support. A formal written agreement ensures that both parties are on the same page and provides a clear roadmap for your post-separation lives. To be legally binding, particularly when it comes to property division, the Alberta Family Property Act requires that each partner receive Independent Legal Advice (ILA) before signing.
8 Things to Include in Your Separation Agreement
1. Parenting Arrangements: Clearly outline the best interests of the children, including a detailed schedule for day to day parenting time, holiday parenting time, and how major decisions regarding your children will be made.
2. Child Support: Ensure your agreement aligns with the Federal Child Support Guidelines. This should include the base monthly amount and how Section 7 special expenses, like sports or medical costs, will be shared.
3. Spousal Support: Clearly state whether spousal support will be paid, the amount, the duration, and under what conditions it might be reviewed or terminated in the future.
4. Division of Family Property: Identify and value all family assets, including the family home, vehicles, and personal property, and outline exactly how they’ll be divided or sold.
5. Division of Debts: Don’t forget the liabilities. Your agreement must specify who is responsible for credit cards, mortgages, and loans to prevent future financial surprises.
6. Pensions and Retirement Assets: In Alberta, pensions and RRSPs are often a couple’s largest assets. Your agreement must specifically address how these will be divided, often requiring specialized court orders.
7. Tax Implications: There are often tax issues wrapped up in your property division, spousal support and child tax benefits and credits. It is important tax issues are addressed in your Agreement.
8. Dispute Resolution Clauses: Life changes. Include a process for how you’ll handle future disagreements, such as requiring mediation before going to court, to keep costs down in the long run.
Craft an Agreement That Lasts
A simple template can’t account for the unique complexities of your life and finances. Our experienced Calgary lawyers can help to ensure you understand your rights and obligations vis a vis your spouse,, every asset is accounted for, and your agreement is drafted to meet the highest legal standards.
Start your next chapter with confidence. Contact BDL Family Law today to consult with our family lawyers and ensure your agreement is accurate, binding, and tailored to your family’s needs.
