· No law requires a separating couple to execute a separation agreement; however it is a wise idea if there are debts, children, support claims or property involved and the parties want to settle these matters in writing.
· A separation agreement is not valid in North Carolina unless both parties have signed and their signatures are notarized.
· To do this, first of all figure out how much the total monthly needs of Mrs. Make sure you have deducted any monthly expenses that belong to Major Smith or that he'll be paying.
· Next figure out which ones are "reasonable" and discard the rest.
An "agreement" means that both parties sign voluntarily.
Coercion, fraud, undue influence or lack of knowledge will void the terms of a separation agreement.
Instead of transferring the exemption without regard to payment of child support on time, some custodial parents agree to a transfer of the dependency exemption only if the other parent is current on child support payments by December 31 of each year. The cost of some private colleges and universities would bankrupt the average parent.
Perhaps "support" should be written broadly as "any payment for the support of a child, including college expenses, medical costs and insurance premiums." Although a North Carolina judge cannot order a party to pay child support for a child in college, a separation agreement can create promises for college expenses which will become a binding, enforceable contract. Consider putting a ceiling or "cap" on the college expenses, such as by specifying that the maximum shall be "the then-prevailing rate for in-state tuition at N. State University" or some other nearby public institution.
Sometimes clients have a provision added to the alimony terms in a separation agreement that alimony will also end at such time as the recipient starts living with an unrelated person of the opposite sex on a regular basis as if they were husband and wife. It is always best to set out such a term clearly in the agreement. While you can't predict what the court will do, you can tell Mrs.
With today's societal changes, it would not be a bad idea to say stop payments upon recipient's romantic cohabitation with any person, whether of the opposite or same sex. Don't just leave it out or let the agreement be silent on this issue. Smith that the court would grant her alimony if: a.
Since college is less of a luxury and more of a necessity these days, it would be a good idea to consider which items should be in the college clause. Such a provision is fair to everyone and does not force either parent to go broke financing a college education. For example, some agreements state that the child must attend an accredited institution, in pursuit of a generally recognized undergraduate degree, on a full-time basis, while maintaining at least a "C" average.
For example, consider the items on the following list. · What part of the college costs will each parent pay?
· A separation agreement is not A separation agreement can specify who claims the children as exemptions for income tax purposes.