At times, a married couple will decide to separate and make certain commitments to each other based on that separation. The law addressing Separation Agreements specifically focuses on the reason for the Agreement. If the terms are limited to physical separation, reconciliation may void or cancel the Agreement. If the Separation Agreement is intended to apply whether or not the parties are living in the same household, careful language addressing that distinction must be made. The language of the Separation Agreement should explain how the parties overcome the presumption of separation if reconciliation occurs.
The agreement often addresses limited issues, such as interim support or interim custody provisions. It may also address preservation of assets. Since the accumulation of marital assets generally ends on the date of separation, identification and preservation of those assets will be critical. You will want to talk to your lawyer about the passive growth of marital assets after separation, and whether or not that appreciation in value will eventually be considered as marital property if the parties divorce.
