When two people decide to end their relationship, there is a strong incentive to save some money by either making informal separation arrangements or by using one of the many separation agreement templates available online. While this may work for some people, the majority of couples benefit from professionally drafted agreements that are specific to their situation.

Separation agreements are intended to deal with the care and support of children, including parenting arrangements and access and contact with children, as well as the division or management of assets and debt. A professionally drafted separation agreement must set out the appropriate arrangements for everything that was once shared between two people, for example children, real estate, pensions, or shares in a corporation. There are often tax considerations that have to be taken into account, too. Agreements of this sort are designed to withstand the test of time and should set out exactly how and when they can be reviewed or varied.

If you have drafted your own separation agreement without the help of a legal professional, and you believe that it may or may not be unfair, you should know that the agreement is still subject to the court’s review. Although the British Columbia Family Law Act provides significant deference to such agreements as long as they appear to have been negotiated using fair bargaining practices, there are reasons why an agreement may be revisited and in turn changed by the courts. As a result, if you and your partner are unsure whether your rights are protected, it is recommended that you seek legal advice before entering into a separation agreement.

At the end of the day, no amount of boilerplate language can replace the knowledge and experience of a family law lawyer. If disagreements do arise after your home-made separation agreement has been executed, you will ultimately need to seek the help of a legal professional. Don’t be penny wise and pound foolish, especially when you can save thousands of dollars (each!) by doing your separation agreement right the first time around. To learn more about separation agreements, contact our experienced family law lawyers who can best advise you on your options.

This article does not provide legal advice and the information should not be taken as such. For proper legal advice and current information about the law, you must speak to a lawyer.