Do we need a Separation Agreement?

Instead of a Separation Agreement, drafted by a lawyer, signed and witnessed, most couples do not anything more formal than a Memorandum of Understanding (“MOU”).

Still, if a Separation Agreement is required, there are ways to reduce the costs of getting the document prepared. When a lawyer receives the MOU, they can easily convert this into a Separation Agreement to meet the requirements of your lender / mortgage company or Pension Plan Administrations.

Outside of the financial institutions, there are rare instances where a Separation Agreement is required. You don’t need to show the Court your Agreement to get divorced! I would suggest that for most couples, the Separation Agreements is unnecessary. If both parties are satisfied with the MOU, the Separation Agreement is redundant and an unnecessary expense.