Separation agreements can be entered into when the parties wish to separate yet not divorce. This may happen for a variety of reasons, such as health insurance benefits, military benefits, religious reasons, and numerous other reasons. Regardless of the reason, it is imperative that you consult with an experience family law attorney before entering into or signing a separation agreement, as they are legally binding on the parties and enforceable as a contract.
Separation agreements are similar to a divorce with the major difference being that the parties remain legally married. Even though the parties will remain legally married, the agreement can divide all current and future assets and debts. If there are children involved, the agreement will also address custody, possession, and support of the children.
It is important to understand that a separation agreement will not allow either of the parties to remarry someone else until and unless there is an actual divorce of the parties at a later time.