Separation Agreement (Marital)
Marital separation agreement — division of property, debts, support, and child arrangements during a separation or pending divorce.
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MARITAL SEPARATION AGREEMENT
This Marital Separation Agreement ("Agreement") is entered into as of May 7, 2026 ("Effective Date") between:
Spouse A: Alex M. Carter
Address: 4218 Maple Avenue, Apartment 2B, Denver, CO 80211
Spouse B: Jordan R. Carter
Address: 8901 Oak Lane, Denver, CO 80218
(individually a "Party," collectively the "Parties").
RECITALS
A. The Parties were married on June 21, 2014 in Colorado.
B. Differences have arisen and the Parties have separated as of May 7, 2026 (the "Separation Date").
C. The Parties wish to settle, by this Agreement, all rights and obligations between them, including division of property, allocation of debts and any spousal maintenance.
D. Each Party has had the opportunity to consult with independent legal counsel and to review the financial disclosures of the other Party.
AGREEMENT
1. SEPARATE LIVING. The Parties shall live separate and apart and neither shall interfere with the other's personal life, residence, or employment.
2. NO REPRESENTATION OF MARITAL STATUS. Each Party may represent to third parties that the Parties are separated and live independently.
3. REAL PROPERTY.
Marital home (4218 Maple Avenue, Denver, CO):
Awarded to Spouse A. Spouse A refinances mortgage in sole name within 180 days of Effective Date and pays Spouse B $135,000 buyout (representing 50% of equity per appraisal dated [date]).
Spouse B vacates by 30 days following Effective Date.
Spouse B remains on title until refinance and buyout complete; thereafter Spouse B executes quitclaim deed.
4. PERSONAL PROPERTY.
Each party retains the personal property currently in their possession.
Vehicles: Spouse A retains 2021 Toyota Highlander (loan in Spouse A's name); Spouse B retains 2019 Honda CR-V (paid in full).
Furniture and household goods: divided per attached schedule (Exhibit A).
Jewelry, family heirlooms, gifts: each party retains items received as gifts or inherited.
5. FINANCIAL ACCOUNTS AND RETIREMENT.
Joint checking (Wells Fargo ending 4218): split 50/50; account closed within 30 days.
Joint savings (Wells Fargo ending 9001): split 50/50; account closed within 30 days.
Spouse A 401(k) (Fidelity, $185,000 vested): half of the marital portion ($92,500) transferred to Spouse B via Qualified Domestic Relations Order (QDRO) within 90 days.
Spouse B IRA ($45,000): retained by Spouse B.
Brokerage account (Schwab joint, $58,000): split 50/50 in-kind.
6. DEBTS AND LIABILITIES.
Mortgage on marital home: Spouse A solely responsible after refinance (within 180 days).
Joint credit cards (Chase Visa, Amex Gold): paid in full from joint savings before account split; both closed within 30 days.
Spouse A car loan: Spouse A solely responsible.
Student loans: each party responsible for own pre-marital and any individual post-separation educational debt.
Each Party indemnifies the other against any claim arising from a debt allocated to such Party under this Section 6.
7. SPOUSAL MAINTENANCE.
Spouse A pays Spouse B $2,000/month for 36 months (rehabilitative maintenance), beginning the first of the month following the Effective Date and ending 36 months after.
Maintenance terminates earlier upon: (a) Spouse B's remarriage; (b) cohabitation with a romantic partner for more than 6 months; (c) death of either spouse; (d) court order modifying maintenance based on material change in circumstances.
Neither party waives the right to seek modification under state law.
8. TAX MATTERS.
Final joint return for current tax year (filed jointly to maximize refund). Refund or liability split 50/50.
Following year, each party files separately.
Claim of children as dependents: Spouse A claims Sam in odd years and Morgan in even years; reverse for Spouse B.
Carryover deductions and capital losses: assigned to Spouse A.
9. MUTUAL RELEASE. Except for obligations created by this Agreement, each Party releases the other from all claims, demands, and obligations arising from the marriage, including any rights of dower, curtesy, statutory share, election against will, intestate succession, or community property (as applicable).
10. WILLS AND BENEFICIARY DESIGNATIONS. Each Party shall, within 30 days of the Effective Date: (a) revoke any will, trust, or beneficiary designation naming the other Party (except where required by court order or by retained obligations under this Agreement); (b) update beneficiary designations on life insurance, retirement accounts, and payable-on-death accounts to reflect this Agreement.
11. DIVORCE PROCEEDINGS. This Agreement shall survive any decree of divorce and may be incorporated by reference into the divorce decree, but the underlying obligations shall remain enforceable as a contract independent of the decree.
12. DISCLOSURES. Each Party acknowledges that they have made and received full and complete disclosure of all assets, liabilities, income, and expenses, and have had the opportunity to verify the disclosures of the other.
13. INDEPENDENT REPRESENTATION. Each Party has had the opportunity to retain independent counsel. Alex M. Carter is / is not represented by counsel; Jordan R. Carter is / is not represented by counsel. Each Party acknowledges that this Agreement was reviewed and understood and is entered voluntarily.
14. NO DURESS OR FRAUD. Each Party warrants that this Agreement is entered into freely, without duress, coercion, or fraud.
15. MODIFICATION. This Agreement may be modified only by written instrument signed by both Parties (or by court order on issues of child support and custody, which remain modifiable per state law).
16. GOVERNING LAW. This Agreement is governed by the laws of the State of Colorado.
17. SEVERABILITY. If any provision is held invalid, the remaining provisions remain in full force and effect.
18. ENTIRE AGREEMENT. This Agreement constitutes the entire understanding between the Parties regarding their marital relationship and separation, and supersedes all prior discussions and writings.
19. COUNTERPARTS AND NOTARIZATION. This Agreement may be signed in counterparts. The Parties agree to sign before a notary public.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.
_______________________________ _______________________________
Alex M. Carter Jordan R. Carter
Spouse A Spouse B
Date: ____________________ Date: ____________________
STATE OF COLORADO )
) ss.
COUNTY OF ____________________ )
Subscribed and sworn before me this _____ day of ______________________, 20___.
_______________________________
Notary Public
My commission expires: ____________________
About this template
A marital separation agreement is the most consequential financial document most couples sign, second only to a will or living trust. It governs division of every asset and debt accumulated during the marriage, allocates support obligations, and — if children are involved — sets the parenting framework that will shape the family for years. Couples often confuse separation with divorce: they are different. Separation is the act of living apart with the intent that the marriage may not continue. Some states (e.g., New York, North Carolina) require a period of separation before granting a no-fault divorce; other states (e.g., California, Colorado) do not but allow couples to "decree" legal separation as a court-recognized status with continuing health insurance and tax-filing benefits. The separation agreement itself is a contract — enforceable independently of any divorce decree. The most-litigated provisions, in order of frequency: (1) Property division — full disclosure is critical; in community-property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) anything earned during the marriage is presumptively 50/50; in equitable-distribution states (the rest) the court divides "fairly" but not necessarily evenly. (2) Spousal maintenance (alimony) — the formula varies wildly by state; some states have explicit guidelines, others leave it to judicial discretion. Rehabilitative maintenance (limited duration to allow the lower-earning spouse to retrain) is increasingly common; lifetime alimony is rare except in long marriages with significant income disparity. (3) Retirement asset division — requires a Qualified Domestic Relations Order (QDRO) for ERISA-qualified plans (401(k), pension); IRAs do not require a QDRO but require careful execution to avoid premature-distribution penalties. (4) Child support — governed by state guidelines based on combined parental income, parenting time, and child-care needs; deviation from guidelines requires written justification. (5) Custody — joint legal custody (shared decision-making) is the default in most states; physical custody (where the child lives) ranges from sole custody to alternating weeks. The "best interest of the child" is the universal standard, but its application varies. State-specific considerations: Texas and Massachusetts treat property differently in the absence of a separation agreement; New York requires equitable distribution to consider non-monetary contributions; California limits enforceability of waivers in some contexts. Tax considerations: post-2018 alimony is no longer deductible by the payor or taxable to the recipient (Tax Cuts and Jobs Act §11051) — this fundamentally changed alimony economics. Couples often elect to file jointly for the year of separation if it produces a better refund; this requires cooperation and trust. Independent legal counsel is strongly recommended for both spouses; mediated agreements where both parties are represented are most likely to be enforced by courts.
When to use it
- Couples separating with the intent that divorce may follow.
- Couples in states (e.g., NY, NC) requiring a separation period before no-fault divorce.
- Couples seeking court-recognized legal separation status (some states) for health insurance or religious reasons.
- Couples who want to lock in financial terms before the formal divorce proceeding.
- Couples who reconcile but want enforceable terms in case the reconciliation fails.
What to include
- Full disclosure of assets, debts, income, and expenses by both parties.
- Real property division (marital home, vacation home, investment property).
- Personal property and household-goods division (often by Exhibit).
- Financial accounts: bank, investment, retirement (with QDRO for ERISA plans).
- Debts and liabilities allocation, with mutual indemnification.
- Child custody, parenting time, child support (per state guidelines), and educational/medical expense sharing.
- Spousal maintenance amount, duration, and termination triggers.
- Tax matters (filing status, dependent claims, carryover items).