Free Separation Agreement

SEPARATION AGREEMENT

THIS SEPARATION AGREEMENT (the "Agreement") dated this _____ of   ___________ ,  _____

BETWEEN:

______________________
of __________, __________,
in the Commonwealth of Virginia, __________

-and-

______________________
of __________, __________,
in the State of ____________________, __________

1. 
   BACKGROUND:
   
1. ______________________ and ______________________ (collectively the "Parties" and individually a "Party") were lawfully married on October 23rd, 2017, in __________, Virginia. Due to certain differences that have developed between the Parties, they agree to live separate and apart from each other, subject to the terms and conditions in this Agreement.
   
2. The Parties have made complete, fair and accurate disclosure to each other on all financial matters reflected in this Agreement.
   
3. The terms of this Agreement are intended to settle the matters addressed, but it will not be incorporated into a final decree of divorce. The Parties agree that a subsequent separation agreement will have to be made and duly incorporated into a final decree of divorce.
   
4. The Parties have each consulted an attorney with regards to his or her legal rights arising out of the marital relationship and the terms of this Agreement.
   
5. The Parties have each voluntarily entered into this Agreement and have not been forced by anyone to sign this Agreement, and both the Parties confirm that they are in sound mental health.
   

IN CONSIDERATION OF the mutual promises and covenants contained in this Agreement, and other valuable consideration, the receipt and sufficiency of which consideration is acknowledged, the Parties agree as follows:

1. LIVING SEPARATE AND APART
   
1. The Parties have lived separate and apart since October 23, 2017.  Neither Party will attend the other's living space or work without invitation or approval.
   
2. CHILDREN
   
2. There are no children of the marriage. Furthermore, the Wife is not now pregnant and the Parties have not adopted any children.
   
3. SPOUSAL MAINTENANCE
   
3. Neither Party claims entitlement to spousal maintenance. Both Parties expressly waive any claim to spousal maintenance now and in the future, regardless of any change in circumstances experienced by either Party.
   
4. ASSETS
   
4. The Parties acknowledge that they have agreed upon a division of all assets, owned or possessed by them as marital property or separate property. The Parties are in possession of all of those assets to which each is respectively entitled. Accordingly, neither makes any claim to any assets in the possession of the other.
   
5. DEBTS
   
5. The Parties agree that any indebtedness secured against, or attributable to, any item of property that either Party is receiving under this Agreement will be the sole responsibility of the Party receiving the particular property.
   
6. Neither Party will incur any further debt or liability on the other Party's credit. Any debt accumulated as of the date of this Agreement is the debt of the individual Party, regardless if the debt was incurred as a result of joint credit.
   
7. GENERAL PROVISIONS
   
7. The Parties will promptly sign and give to the other all documents necessary to give effect to the terms of this Agreement.
   
8. This Agreement contains the entire agreement between the Parties about their relationship with each other. It replaces any earlier written or oral agreement between the Parties.
   
9. Should any portion of this Agreement be held by a court of law to be invalid, unenforceable, or void, such holding will not have the effect of invalidating or voiding the remainder of this Agreement, and the Parties agree that the portion so held to be invalid, unenforceable, or void, will be deemed amended, reduced in scope, or otherwise stricken only to the extent required for purposes of validity and enforcement in the jurisdiction of such holding.
   
10. The Parties may only amend this Agreement in writing after both Parties have obtained legal advice on the changes.
    
11. In the event that a dispute arises regarding this Agreement, the Parties will try to resolve the matter through negotiation or mediation, prior to initiating a court action.
    
12. Notwithstanding that the Parties acknowledge and agree that their circumstances at the execution of this Agreement may change for any reason, including but without limiting the generality of the foregoing, the passage of years, it is nonetheless their intention to be bound strictly by the terms of this Agreement at all times.
    
13. This Agreement creates a fiduciary relationship between the Parties in which each Party agrees to act with the utmost of good faith and fair dealing toward the other in all aspects of this Agreement.
    
14. The Parties agree to provide and execute such further documentation as may be reasonably required to give full force and effect to each terms of this Agreement.
    
15. The headings of this Agreement form no part of it, and will be deemed to have been inserted for convenience only.
    
16. This Agreement will be binding upon and will enure to the benefit of the Parties, their respective heirs, executors, administrators, and assigns.
    
17. If the Parties reconcile, the terms of this Agreement will remain in effect unless the Parties revoke it in writing.
    
18. This Agreement may only be terminated or amended by the Parties in writing signed by both of them.
    
19. The law of the Commonwealth of Virginia will govern the interpretation of this Agreement, and the status, ownership, and division of property between the Parties wherever either or both of them may from time to time reside.