The Law Offices of Francine Pickett Cohen, LLC

Settlement and Separation Agreements

A Settlement Agreement is the written contract that contains all of the terms of your agreement with a spouse (or soon to be former spouse) once an action for divorce or annulment has been started.  In the end, the agreement usually becomes incorporated into your Judgment of Divorce, while still continuing as a separate contract.

A Separation Agreement is the written contract that contains all of the terms of your agreement to live apart from your spouse.  These are prepared when the parties have agreed to live separate and apart from one another, but neither is planning to go forward with a divorce in the immediate future.  However, after one year of living under the terms of such an agreement, either party may file for divorce, but neither party is required to do so.  

Whether your agreement is called a Separation Agreement or a Settlement Agreement, the document will usually address issues that may include all or some of the following:  the division of property including real estate, stocks, bank accounts and other assets; pensions; child support; spousal support; custody and parenting agreements; payment of private school and/or college expenses for children; estate and inheritance rights; liability and responsibility for marital debts; and health and life insurance provisions for spouses and children.  These agreements can be quite detailed and they are difficult to modify once agreed upon.  You need a qualified attorney to represent you in these matters.