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Separation Financial Agreement
"I need a Separation Financial Agreement for a couple separating after 15 years of marriage, where one party owns a small business and there are significant KiwiSaver and investment assets to be divided, with implementation to be completed by March 2025."
1. Parties: Identification and details of both parties to the agreement
2. Background: Details of the relationship, date of separation, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Independent Legal Advice: Confirmation that both parties have received independent legal advice
5. Property Classification: Classification of property as relationship property or separate property
6. Division of Property: Agreed division of relationship property and separate property
7. Financial Obligations: Details of any ongoing financial obligations between parties
8. Full and Final Settlement: Statement that this agreement represents a full and final settlement
9. Disclosure: Confirmation of full disclosure of assets and liabilities by both parties
10. Implementation: Timeframes and processes for implementing the agreement
11. Dispute Resolution: Process for resolving any disputes arising from the agreement
12. Governing Law: Confirmation that the agreement is governed by New Zealand law
1. Spousal Maintenance: Terms of ongoing maintenance payments between parties, if applicable
2. Business Interests: Specific provisions for division or management of business interests
3. Superannuation: Division of superannuation or pension entitlements
4. Future Property: Treatment of property acquired after separation but before implementation
5. Tax Implications: Specific provisions regarding tax consequences of property division
6. Inheritance and Gifts: Treatment of expected inheritances or significant gifts
7. Death Provisions: Provisions in case either party dies before implementation
8. Insurance Policies: Treatment of life, health, or other insurance policies
9. Overseas Assets: Specific provisions for assets located outside New Zealand
1. Schedule A - Relationship Property: Detailed list of all relationship property with agreed values
2. Schedule B - Separate Property: Detailed list of separate property retained by each party
3. Schedule C - Liabilities: List of all joint and separate liabilities and their allocation
4. Schedule D - Implementation Actions: Specific actions required to implement the agreement
5. Schedule E - Transfer Documents: List of documents required for property transfers
6. Appendix 1 - Property Valuations: Professional valuations of significant assets
7. Appendix 2 - Certificates of Independent Legal Advice: Signed certificates from each party's lawyer
Authors
Legal Services
Financial Services
Professional Services
Real Estate
Banking
Insurance
Family Services
Wealth Management
Property Management
Business Services
Legal
Family Law
Private Client Services
Wealth Management
Property Law
Dispute Resolution
Corporate Advisory
Trust Administration
Document Services
Client Relations
Lawyer
Family Law Specialist
Legal Counsel
Paralegal
Financial Advisor
Wealth Manager
Property Lawyer
Relationship Property Specialist
Mediator
Settlement Agent
Legal Executive
Trust Manager
Estate Planning Advisor
Business Valuation Specialist
Accountant
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