Tag: Ensuring Fairness in the Agreement
How to Draft a Fair and Binding Separation Agreement?
Legal Requirements for a Binding Separation Agreement
Written Format and Signatures of Both Parties
A verbal agreement will not hold up in court. The separation agreement must be in writing, clearly outlining all terms in plain and unambiguous language. Both parties must sign the document, and it must be witnessed to ensure authenticity. Without these formalities, the agreement risks being deemed invalid.
Full Financial Disclosure Obligations
Transparency is critical when drafting a separation agreement. Failing to disclose material facts may lead to the agreement being set aside by the court, as it could be considered unfair or obtained under false pretences.