Every separating couple has three ways to resolve legal issues between them: as it is written, a separation agreement is good proof of the decisions that have been made between you and your spouse for future referrals. The lack of an agreement means that in the future, your partner will eventually be able to assert financial claims against you: if the children are concerned, it may be good to argue that each party has a life insurance policy until the children are all of age. Each policy designates the other parent as the sole beneficiary of the policy, for the benefit of the children, to ensure that the children are taken care of in the event of the death of one of the parties. Most insurance agreements allow parties to change the beneficiaries of their policies as soon as the youngest child is 19 years old. Of course, separation agreements are not everyone`s business.