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Separation Settlement Agreement

Separation Settlement Agreement Template for New Zealand

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Key Requirements PROMPT example:

Separation Settlement Agreement

"I need a Separation Settlement Agreement under New Zealand law for a couple with two minor children, significant business assets including a family-owned restaurant, and shared investment properties, with the separation date set for March 1, 2025."

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Document background
The Separation Settlement Agreement is a crucial legal document used in New Zealand when couples (married or de facto) decide to formally separate and need to document their arrangements regarding property division and ongoing obligations. This agreement is designed to comply with New Zealand's Property (Relationships) Act 1976 and other relevant legislation, providing a comprehensive framework for separating couples to resolve their property and financial matters without necessarily going through court proceedings. It typically includes provisions for the division of relationship property, financial settlements, arrangements for children if applicable, and any ongoing obligations between the parties. The document should be prepared with independent legal advice for both parties and can be used as evidence of the parties' intentions if future disputes arise. The agreement becomes particularly important when there are significant assets, business interests, or complex financial arrangements involved in the separation.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

2. Background: Brief history of the relationship, date of separation, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Acknowledgments: Statements confirming independent legal advice, full disclosure, and voluntary execution

5. Separation Confirmation: Formal confirmation of separation and intent to live apart

6. Division of Relationship Property: Detailed arrangements for the division of all relationship property, including the family home, vehicles, and household items

7. Financial Matters: Treatment of joint accounts, debts, loans, and other financial obligations

8. Mutual Release: Release of future claims against each other's property

9. Confidentiality: Provisions regarding the confidentiality of the agreement and personal information

10. Dispute Resolution: Process for resolving any future disputes regarding the agreement

11. General Provisions: Standard clauses including governing law, entire agreement, and amendments

12. Execution: Signing provisions and witness requirements

Optional Sections

1. Children's Arrangements: Details of custody, access, and care arrangements for children - included when parties have children

2. Child Support: Arrangements for financial support of children - included when there are dependent children

3. Spousal Maintenance: Provisions for ongoing financial support between parties - included when relevant

4. Business Assets: Division or treatment of business interests - included when parties have business assets

5. Superannuation: Division of retirement accounts and pension schemes - included when applicable

6. Insurance Policies: Treatment of life, health, or other insurance policies - included when relevant

7. Pets: Arrangements for care and custody of pets - included when parties have pets

8. Future Property: Treatment of property acquired after separation - included when needed

9. Tax Provisions: Specific tax arrangements and obligations - included when complex financial arrangements exist

10. International Assets: Treatment of overseas property or assets - included when parties have international assets

Suggested Schedules

1. Schedule A - Relationship Property: Detailed inventory of all relationship property with agreed values

2. Schedule B - Separate Property: List of all property agreed to be separate property of each party

3. Schedule C - Division of Household Items: Detailed list of how household items and personal effects will be divided

4. Schedule D - Outstanding Debts: List of all joint debts and liabilities and their agreed treatment

5. Appendix 1 - Property Valuations: Professional valuations of significant assets

6. Appendix 2 - Financial Disclosure: Statements of financial position from both parties

7. Appendix 3 - Parenting Plan: Detailed parenting arrangements if children are involved

8. Appendix 4 - Business Valuations: Professional valuations of business interests if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Roles

Family Lawyer

Legal Counsel

Property Lawyer

Mediator

Financial Advisor

HR Manager

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