A separation agreement is a written document that sets out the rights, responsibilities, and obligations of people who are separating. In the United States, however, the term can refer to two very different situations: separation between spouses and separation between an employer and an employee.
A marital separation agreement deals with matters such as property, finances, children, and support. An employment separation agreement generally deals with the end of an employment relationship and may address severance pay, benefits, confidentiality, releases, and other terms.
What Is an Employment Separation Agreement?
An employment separation agreement is a written agreement between an employer and employee concerning the end of the employment relationship.
It may be used when an employee is:
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Laid off
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Terminated
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Offered voluntary separation
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Offered a severance package
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Leaving under a negotiated arrangement
In employment situations, the document may also be called a severance agreement, termination agreement, or separation and release agreement. The EEOC specifically notes that severance agreements may be referred to as separation or termination
Employee Separation Agreement Templates:
Severance Agreement Template:
Because the legal requirements and consequences can vary depending on the state, the type of relationship, and the circumstances, a separation agreement should be prepared and reviewed with the applicable laws in mind.
What Is a Marital Separation Agreement?
A marital separation agreement, sometimes called a separation agreement or marital settlement agreement, is a written agreement between spouses who are separating.
It can establish how the spouses will handle important issues while living separately and, depending on the circumstances and applicable state law, may also become part of the resolution of a divorce.
Common subjects include:
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Division of marital property
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Division of debts
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Spousal support or maintenance
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Child custody
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Parenting time
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Child support
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Responsibility for household expenses
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Health insurance
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Personal property
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Real estate
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Taxes
Marriage Separation Agreement Templates:
