A Private Divorce Agreement is essential when spouses in England and Wales wish to formalize their separation arrangements outside of court proceedings. This document becomes particularly relevant following the introduction of no-fault divorce in April 2022, offering a more amicable approach to divorce settlements. The agreement typically covers asset division, financial arrangements, pension sharing, and children's arrangements if applicable. While not automatically legally binding, courts generally uphold such agreements if they are properly drafted and both parties received independent legal advice.
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1. Parties: Details of both spouses entering into the agreement
2. Background: Marriage date, separation date, and reason for agreement
3. Definitions: Key terms used throughout the agreement
4. Division of Assets: Agreement on division of property, savings, and investments
5. Financial Obligations: Ongoing financial responsibilities including maintenance
6. Clean Break Provisions: Terms preventing future financial claims
1. Children Arrangements: Provisions covering custody, access, and maintenance of children under 18
2. Pension Sharing: Details of pension division arrangements between the parties
3. Business Interests: Provisions covering the division of business assets and interests
4. International Assets: Provisions dealing with overseas property or assets in other jurisdictions
1. Schedule 1: Asset Schedule: Detailed list of all matrimonial assets and their agreed values
2. Schedule 2: Property Details: Details of all properties owned and their agreed disposition
3. Schedule 3: Financial Disclosure: Summary of both parties' financial positions
4. Appendix A: Children's Arrangements: Detailed parenting plan including visitation schedules and special arrangements
5. Appendix B: Pension Documentation: Pension sharing orders and valuations
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