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Contract Separation Agreement
"I need a Contract Separation Agreement for a couple with two minor children, including shared custody arrangements, division of a family home in Toronto, and spousal support provisions, with the separation date set for March 1, 2025."
1. Parties: Identification of both spouses and their current contact information
2. Background: Details of marriage/relationship, date of separation, and purpose of agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Separation and Living Arrangements: Confirmation of separation and future living arrangements
5. Release and Waiver: Mutual release of claims and rights between parties
6. Division of Property: General principles for division of matrimonial property
7. Debts and Liabilities: Allocation of joint and individual debts and obligations
8. Income Tax Matters: Handling of tax issues, returns, and credits
9. Mutual Release and Indemnification: Protection against future claims and obligations
10. Independent Legal Advice: Acknowledgment of receiving or waiving independent legal advice
11. Governing Law: Specification of applicable jurisdiction and laws
12. Dispute Resolution: Process for resolving future disputes
13. Amendment and Waiver: Procedures for modifying the agreement
14. Severability: Preservation of agreement if parts are found invalid
15. Execution: Signing requirements and effective date
1. Child Custody and Access: Required if parties have children; details custody arrangements and visitation rights
2. Child Support: Required if parties have children; specifies support obligations per guidelines
3. Spousal Support: Include if spousal support is being paid or explicitly waived
4. Pension Division: Include if either party has pension assets to be divided
5. Life Insurance: Include if life insurance policies are being maintained as security
6. Family Home: Include if there is a matrimonial home to be dealt with
7. Business Interests: Include if either party owns business assets
8. Pets: Include if arrangements for pets need to be specified
9. Future Dispute Resolution: Optional detailed procedures for mediation/arbitration
10. Religious Divorce: Include if religious divorce proceedings are relevant
1. Schedule A - Assets: Detailed list of all assets and their agreed division
2. Schedule B - Debts: Detailed list of all debts and liabilities and their allocation
3. Schedule C - Household Contents: Itemized list of household items and their division
4. Schedule D - Parenting Schedule: Detailed custody and access schedule if children involved
5. Schedule E - Support Calculations: Child and/or spousal support calculations and details
6. Schedule F - Insurance Policies: List of insurance policies and beneficiary arrangements
7. Schedule G - Business Assets: Detailed valuation and division of business interests
8. Appendix 1 - Financial Statements: Current financial statements of both parties
9. Appendix 2 - Property Valuations: Professional valuations of significant assets
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