What is a Separation Agreement?

Answer: The separation agreement is essentially a contract that sets out all the assets and liabilities of the case. Assets are things like the cars, house, retirement account, pretty much anything valued over $500.

I would suggest making a list of all of these items and how much they’re worth, and then going through and trying to divide them between the two parties.

Liabilities are another part of the separation agreement. Again, I suggest making a list with all your credit cards, mortgages, and all your debts, and go through those and divide them in half.

How do you know what’s fair? If there’s an equitable division of assets (it’s close to 50/50) then you’re pretty close on the numbers.

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