Parents who have gifted property to their children are being warned they could be landing their...
For some married couples who are separating, commencing Divorce proceedings straight away may be a big step to take at an early stage. At the same time however, they wish to have the peace of mind knowing that there are arrangements in place in relation to the finances to give them some security moving forward at such a difficult time.
In such situations as these, or indeed in cases where people feel for religious reasons they do not wish to start divorce proceedings, then it is possible for the parties to separate and deal with the arrangements in relation to their financial matters in a Separation Agreement.
A Separation Agreement, can set out in detail the agreement the parties have reached in relation to their financial affairs and provide the parties with some reassurance and certainty moving forward, that it has been clearly documented and agreed how assets are going to be split and Property, etc dealt with.
Whilst a Separation Agreement is not the same as a binding court order/consent order within divorce proceedings, if drawn up properly, it can be used as evidence of the intentions of the parties in the event that a dispute arises later on.
Our team can offer advice, practical guidance and assistance in the preparation of these agreements, to provide clients with peace of mind moving forward.