Ballantyne Divorce: The Top 3 Benefits Of A Separation Agreement

In North Carolina, before a divorce can be granted, a couple must be separated for at least one year. In some cases, a judge divides the couple’s shared property. This isn’t always equal and a judge doesn’t inherently know what agreement will benefit the family the most.

“Sometimes, it is better for one person to keep hold of the house, while the other person maintains control of an investment account,” said Thomas D. Bumgardner, Ballantyne divorce lawyer. “A couple can save themselves time and money by consulting a lawyer to draft a separation agreement.”

What is a Separation Agreement?

Essentially, a separation agreement will resolve issues regarding property, child support and custody. The agreement is a written contract that is agreed upon by both parties and is enforced by law once it is signed and notarized.

What are the Benefits of a Separation Agreement?

Low Cost

During a separation, a dual-income will become a single-income, and budgets will be stretched thin as two people maintain two households.

The number one reason to settle using a Separation Agreement is its low cost. Court and lawyer fees can really add up. A Separation Agreement will be a fraction of the cost of a long litigation process.

Time Efficient

Separation and divorce is emotionally draining and can be even more difficult if children are involved. The sooner each person moves on to their new life, the better.

Separation Agreements are extremely time efficient. Once a couple decides that a separation is needed, a Separation Agreement can be drafted within weeks. The litigation process can take months and, in some cases, last a year!

You Remain in Control

When a judge handles the decision, the results are final and each person must abide by the ruling. When a couple seeks mediation with the view to agreeing upon a settlement, they are in control of the compromises they make. This process is more likely to produce an outcome that each side is happy with.

Get the Process Started With a Ballantyne Divorce Lawyer

Before you meet with a lawyer, it is important to have an idea of what is most important to you. For example, if primary custody of your children is the most important outcome, that is vital information for your lawyer.

Thomas D. Bumgardner has years of experience assisting Charlotte and Ballantyne families through separation and divorce. Settlement through mediation and fair resolution is always the number one goal. If you would like to schedule a free consultation with Thomas, please call (704) 870-4779.

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