A credit card is a debt like a mortgage, but it is not secured by a house. A credit card debt must be paid by the party who registered for the card. You can be an additional cardholder, but the additional cardholder is not responsible for paying the debt. The party receiving the statement must pay the monthly payments, and if it stops the credit card company, it will only sue the cardholder for the debt. However, the credit card may be a marital debt that must be taken into account in determining the net marital property if it was contracted after the date of marriage and before the date of separation. This varies from case to case. Some parties can reach an agreement very quickly and the process can therefore take a few months. However, for other parties, it may take months or even years to reach an agreement. However, we find that this is not always guaranteed for couples who separate – and relationships can deteriorate if a partner changes their mind afterwards! For this reason, it is useful to conclude a formal written agreement with legal advice. If a separation agreement is entered into voluntarily by both parties, with the benefit of legal advice, full financial disclosure from both parties, and the terms set out in the agreement, it is unlikely that a judge will intervene to amend it. It is important that the separation agreement is designed by a legal expert so that you can do it correctly the first time, so take the time to get it now, if it is later challenged by one of the parties.
If you have an existing separation agreement, but later disagree and ask the courts to settle the dispute, a judge may see no reason to vary it when issuing financial orders and injunctions to agree with children. For more information on maintaining or amending separation agreements, click here. A separation agreement is a legally binding contract and, if properly prepared and then registered, it normally has the same effect as a court order (with a few exceptions, such as for example. B custody orders that cannot be enforced by the court). Although a couple, once they have signed a separation agreement, have usually severed all ties with each other, they still remain married. The separation agreement does not grant them divorce. A divorce expires all inheritance rights after the death of the other spouse. A separation agreement could cover this eventuality, but it is something that should be specifically covered in the separation agreement, otherwise a separated spouse might be able to claim the estate of the other if they die. Their divorce is recognised throughout the EU. A separation agreement first defines how the various assets and liabilities are to be allocated and who is responsible for paying any joint invoices.
It is customary for such an agreement to also refer to the custody agreements agreed for all the children in the relationship. It can also make financial arrangements for children, for example. B the amount of maintenance to be paid and who is responsible for paying the tuition fees. . . .