A separation agreement is meant to bring finality. If it is incomplete or unclear, it can create new disputes instead of resolving existing ones.
Preparation is key.
Before negotiating or signing
- Ensure full financial disclosure from both parties
- Confirm the valuation date and key financial figures
- Identify all assets and debts
- Consider tax implications of transfers
- Address spousal support (amount, duration, review)
- Address child support and Section 7 expenses
- Confirm property division and any equalization payment
- Review estate implications (wills, beneficiaries, joint assets)
- Obtain independent legal advice
Practical guidance
Do not rush. Agreements signed under pressure or without full information are more likely to be challenged.
Make it realistic. The agreement should reflect how the parties will actually operate going forward.
Address the future. Consider how changes in income, employment or parenting will be handled.
Common mistakes
- Signing without full disclosure
- Using vague or incomplete language
- Ignoring tax consequences
- Failing to update estate planning after signing
Why it matters
A properly drafted agreement can prevent future litigation. A poorly drafted one can lead to disputes years later.
