The Separation Settlement Agreement is a crucial legal document used in Denmark when married couples decide to formally separate but have not yet proceeded to divorce. This agreement, governed by Danish law and particularly the Marriage Act (脙茠芒鈧爂teskabsloven), serves as a comprehensive framework detailing how the separating couple will handle their shared assets, financial obligations, and family responsibilities during the separation period. It typically precedes a potential divorce and must comply with Danish legal requirements, including proper property division, financial arrangements, and if applicable, child custody and support provisions. The document becomes especially important as it can later form the basis for a divorce settlement, and its terms are legally binding under Danish jurisdiction. It should be drafted with careful consideration of both parties' rights and obligations, often requiring input from legal professionals familiar with Danish family law.
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Key Requirements PROMPT example:
Separation Settlement Agreement
I need a Separation Settlement Agreement for a couple with significant international assets, including property in both Denmark and Germany, with the separation to take effect from March 1, 2025; the agreement must include detailed provisions for dividing multiple investment portfolios and addressing cross-border tax implications.
1. Parties: Identification of both spouses, including full legal names, addresses, and CPR numbers (Danish personal identification numbers)
2. Background: Brief history of the marriage, date of marriage, date of separation, and reason for entering into the agreement
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Date of Separation: Formal declaration of the separation date and its legal effects
5. Division of Property: Comprehensive arrangement for division of joint property, including the marital home, vehicles, and personal effects
6. Financial Arrangements: Details of financial settlements, including division of bank accounts, investments, and pension arrangements
7. Debts and Liabilities: Allocation of responsibility for existing debts and ongoing financial obligations
8. Spousal Maintenance: Terms of any spousal maintenance payments, including amount, duration, and payment method
9. Tax Matters: Handling of tax obligations and arrangements for the current and future tax years
10. Future Claims: Waiver of future claims against each other's property or estate
11. Dispute Resolution: Process for resolving any future disputes regarding the agreement
12. Governing Law: Confirmation that the agreement is governed by Danish law
13. Execution: Signing requirements and date of agreement
1. Child Custody and Access: Required if the couple has children - details custody arrangements, visitation schedules, and decision-making responsibilities
2. Child Support: Required if the couple has children - specifies child support payments and additional expenses for children
3. Business Interests: Required if either party owns business interests - details the division or handling of business assets
4. Pets: Required if the couple has pets - arrangements for pet custody and care
5. International Assets: Required if the couple has assets in other countries - specific provisions for international property
6. Insurance Policies: Required if there are joint insurance policies - arrangements for continuation or division of policies
7. Intellectual Property: Required if either party has IP rights - arrangements for ownership and royalties
8. Social Media and Digital Assets: Required if there are shared digital assets or concerns about social media - guidelines for handling digital presence
1. Schedule A - Property Inventory: Detailed list of all property being divided, including values and allocation
2. Schedule B - Financial Assets: Comprehensive list of bank accounts, investments, and other financial assets
3. Schedule C - Personal Effects: Itemized list of personal items and their agreed distribution
4. Schedule D - Debts and Liabilities: Detailed list of all debts and payment responsibilities
5. Appendix 1 - Child Custody Schedule: Detailed visitation and custody calendar if applicable
6. Appendix 2 - Property Valuations: Professional valuations of significant assets
7. Appendix 3 - Pension Statements: Current pension statements and division arrangements
8. Appendix 4 - Business Valuations: Professional valuations of any business interests if applicable
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