A separation agreement is a formal agreement between husband and wife. A separation agreement usually contains, among others, the following provisions:
" If there are children, how much child support is to be paid and the terms of payment.
" A visitation schedule.
" How much alimony (if any) is to be paid.
" Responsibility for the joint bills.
" Who will remain in the marital residence and who will pay for its upkeep.
" How to split any tax refund and tax deductions.
Wisconsin Separation and Support Agreement Providing for Support of Spouse and Custody and Support of Children is a legal document specifically designed to outline the terms and conditions of the separation when a married couple decides to live apart but not divorce. This agreement is crucial because it ensures a fair and equitable distribution of assets, debts, child custody, and financial support. In Wisconsin, there are no specific types of separation and support agreements named, as the agreement's content is customizable based on the couple's unique circumstances and needs. However, here are some essential aspects typically covered in a Wisconsin Separation and Support Agreement: 1. Child Custody and Visitation: The agreement will clearly define the physical and legal custody of any children involved, including a parenting schedule, decision-making responsibilities, and visitation rights for the noncustodial parent. 2. Child Support: The agreement will establish the financial obligations of each parent concerning child support payments. These obligations are based on Wisconsin's child support guidelines, taking into account factors such as each parent's income, the number of children, and other relevant expenses. 3. Spousal Support: If one spouse requires financial support from the other after separation, the agreement will outline the terms of spousal support, also known as alimony or maintenance. It will determine the amount, duration, and any adjustments to be made in the future. 4. Division of Assets and Debts: The separation agreement will address the division of marital property, including real estate, vehicles, bank accounts, investments, and personal belongings. It will also account for the division of debts and liabilities accrued during the marriage. 5. Health Insurance and Benefits: The agreement may outline the continuation of health insurance coverage for the spouse and children during the separation period. It will also address other benefits like life insurance or retirement plans. 6. Dispute Resolution: To avoid conflicts in the future, the agreement may include provisions for resolving disputes, such as mediation or arbitration. This ensures that both parties have a clear process to follow in case disagreements arise. Having an enforceable Separation and Support Agreement is crucial, as it provides both certainty and protection for the individuals involved. By addressing various aspects like child custody, child support, spousal support, asset division, and dispute resolution, the agreement serves as a foundation for a fair and amicable separation. Each agreement may be unique, tailored to the couple's specific circumstances, aiming to safeguard the best interests of the spouses and children involved in the separation process.
