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Separation Financial Agreement Template for New Zealand

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Key Requirements PROMPT example:

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."

Document background
A Separation Financial Agreement is a crucial legal document used in New Zealand when couples decide to separate and need to formalize their financial arrangements. This agreement is particularly important as it provides certainty and finality in property division matters, helping parties avoid costly court proceedings. The document must comply with the Property (Relationships) Act 1976 and related legislation, requiring full financial disclosure from both parties and independent legal advice. It typically covers all financial aspects of the separation, including property division, debt allocation, maintenance arrangements, and implementation timeframes. The agreement is especially relevant when parties have significant assets, business interests, or complex financial arrangements that need to be carefully addressed during separation.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































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Relevant Industries

Legal Services

Financial Services

Professional Services

Real Estate

Banking

Insurance

Family Services

Wealth Management

Property Management

Business Services

Relevant Teams

Legal

Family Law

Private Client Services

Wealth Management

Property Law

Dispute Resolution

Corporate Advisory

Trust Administration

Document Services

Client Relations

Relevant Roles

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

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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