If you`re going through a divorce or separation in New Zealand, it`s essential to have a separation agreement in place. This agreement outlines how you and your partner will divide your assets, arrange custody of your children (if applicable), and handle other important matters relating to your separation.
In this article, we`ll provide an example of a separation agreement in New Zealand, so you can get a better idea of what`s typically included in these types of documents.
Example of a Separation Agreement NZ
1. Background Information
The first section of a separation agreement in New Zealand typically includes some background information about the parties involved. This may include your name and your partner`s name, as well as your date of marriage or date you started living together.
2. Living Arrangements and Child Custody
The next section of the separation agreement typically addresses living arrangements and child custody. This may include information about where each party will live after the separation, as well as who will have custody of any children. The agreement may also outline a parenting plan, including visitation schedules and communication agreements.
3. Financial Arrangements
The financial section of the separation agreement is perhaps the most important, as it outlines how you and your partner will divide your assets and debts. This may include information about how you`ll divide your bank accounts, investments, and any real estate you own. It`s important to be as specific as possible in this section, as it can prevent disputes down the line.
4. Debts and Liabilities
In addition to dividing your assets, the separation agreement will also outline how you`ll divide any debts or liabilities you have. This may include outstanding mortgage payments, credit card debt, and any other loans you have. It`s important to address these matters in writing to ensure that both parties are clear on their responsibilities.
5. Spousal Support
If one partner requires financial support after the separation, this section of the separation agreement will outline the terms of that support. This may include information about how much support will be paid, how frequently it will be paid, and for how long.
6. Division of Personal Property
Finally, the separation agreement will address how any personal property will be divided. This may include household items such as furniture, appliances, and electronics, as well as any cars or other vehicles you own.
Conclusion
A separation agreement is an essential document for anyone going through a divorce or separation in New Zealand. By outlining the terms of your separation in writing, you can avoid disputes and ensure that both parties are clear on their responsibilities. If you`re in the process of creating a separation agreement, the above example can serve as a helpful guide.