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[skdad]

What else do you recomend I do, we are both being civil about it, & I want to avoid the lawyers as much as possible.

She knows she needs this money to finance this house, & we have come to an agreement. This is the reason I have wrote up this document, as evidence that the money was paid to her as part of an equalization payment, not as a gift.

The bank draft is already sitting at the lawyers office that she is using in the home purchase.

How does everyone else pay an equalization payment

[frustratedwithex]

What else do you recomend I do, we are both being civil about it, & I want to avoid the lawyers as much as possible.

This is the problem. The more you try and avoid lawyers, the more you need them. Just because everything is civil now, doesn't mean it won't change.

You need a lawyer for your protection.

If you do your research before you see a lawyer, it should help keep your costs down. If you take this example to a lawyer, you will most likely pay more legal fees than you had expected.

[Pursuinghappiness]

This is the reason I have wrote up this document, as evidence that the money was paid to her as part of an equalization payment, not as a gift.

I wouldn't necessarily hire a lawyer to deal with your complete separation...but I would ask for help for one to help you draft this contract up. It should take less than 1 billing hour and is well worth the effort. You can even arrange one together that you both agree on so you can sit together to do it. The wording on this contract worries me a bit....but I'm not a lawyer..maybe its sufficient but I'd check on it before I signed it.

[frustratedwithex]

I wouldn't necessarily hire a lawyer to deal with your complete separation...but I would ask for help for one to help you draft this contract up. It should take less than 1 billing hour and is well worth the effort. You can even arrange one together that you both agree on so you can sit together to do it. The wording on this contract worries me a bit....but I'm not a lawyer..maybe its sufficient but I'd check on it before I signed it.

I wouldn't use the same lawyer. You both need independent legal advice.

Do your homework before you see a lawyer, take their advice into consideration, be aware of contentious points, and understand that when all is said and done it is your separation agreement, not the lawyers. They will point out everything that is wrong, and tell you how it should be fixed, this all costs money.

[mcdreamy]

I think you need to bar her from coming back for any further property division or SS, and your draft doesn't really seem to do that. She WILL need to review and sign with her lawyer. You probably should too! - but I'd go more along this line: (I might have to cut/paste into several posts)


FULL AND FINAL RELEASE

In consideration of the payment of the sum of $ to Wife, the sufficiency of which is hereby acknowledged, the parties hereto hereby remise, release and forever discharge each other from all claims and demands whatsoever which they may now have, ever had or hereafter can, shall or may have for or by reason of any cause, matter or thing whatsoever existing to the present time and, without limiting the generality of the foregoing,

1. Of and from all claims and demands of every nature and kind in any way related to or arising from any rights to and interest in property owned by the other which he or she has or may acquire under the laws of any jurisdiction, and in particular the Family Law Act, including all rights to and interest in:
i. ownership in property;
ii. possession of property;
iii. compensation by payment of an amount of money, or by an award of a share of property for contribution of any kind, either direct or indirect, made to property;
iv. beneficial ownership of property where one party is alleged to hold property for the other party as trustee on a resulting, implied or constructive trust;
v. division of property; and
vi. an equalization payment pursuant to the Family Law Act.

[mcdreamy]

2. Of any claims and demands of every nature and kind which he or she now has or may hereafter acquire against the other for support, whether under the Family Law Act under presently existing legislation or future legislation whether in this jurisdiction or any other jurisdiction. The parties acknowledge that each will be deemed to be self-supporting and not in need of support from the other. This release and this paragraph may be pleased as a complete defence to any claim brought by either party to assert a claim for support. The parties realize that there may be future changes in their financial circumstances by reason of their health, the cost of living, their employment, financial mismanagement, financial reversals, inheritance or otherwise. No change whatsoever, even if it be material, profound, catastrophic or otherwise, will give either party the right to claim or obtain support from the other pursuant to the Family Law Act, or any other statute or law.


Wife acknowledges that the payment referred to above is made for the purposes of fully and finally settling and compromising all possible claims in property division or support that she might have in consideration of the payment being made. In the event that Wife hereafter makes any claim or demand or commence or threaten to commence any action, claim or proceeding or to make any complaint against Husband in this respect, this release may be raised as an estoppel and complete bar to any such action, claim or proceeding.

It is understood and agreed that the payment referred to above is made on a without-prejudice basis and shall not be deemed to be an admission of liability, which is denied.

Notwithstanding the above, the parties agree that child support for the benefit of the child shall be continued to be paid in accordance with the FLA guidelines and the parties hereto covenant and agree that they shall work together, in good faith, towards finalizing, executing and implementing a custody agreement for shared parenting of the said child.

Dated/Signed/Witnessed: Husband / Wife

[mcdreamy]

I'm not so great on the shared parenting 50/50 stuff, because we don't do that, but perhaps some other posters here who are in shared parenting can beef that paragraph up to make it flow.