A Separation Agreement can be used when a couple who wants to
separate wishes to formally divide their responsibilities in
regards to items such as:
Spousal maintenance payments: If one spouse is going to make
support payments to the other.
Child custody and visitation schedules: Which parent any
dependent children will primarily live with, and the expected schedule
for visits with the other parent.
Child maintenance payments: If one spouse is going to provide
financial support for any dependent children.
Health insurance coverage for children: Which parent (or both,
if applicable) will be responsible for providing health and dental
insurance for any dependent children.
Possession or sale of the matrimonial home: Whether or not
one spouse will keep possession of the home which was occupied by both
spouses at the time of the separation, or if the home will be sold and
the money divided between both spouses.
Division of physical assets including items to be sold for cash:
Each spouse can choose to have a list of specific items they will keep
upon separating, and a combined list of items to be sold for cash which
will be divided evenly between them.
Division of outstanding debts: Spouses must decide who will
take responsibility for all existing debts including credit cards,
loans, and lines of credit.