What issues should a separation agreement cover in Ontario?

A well-drafted separation agreement in Ontario should address all the major issues arising from the separation so that both parties have a clear, complete record of their arrangements. The core areas are:

Property: how the matrimonial home will be dealt with (sold, bought out), how bank accounts and investments are divided, how the pension or retirement savings are addressed, and whether an equalization payment is owed and how it will be paid.

Spousal support: whether either spouse will pay the other, the amount, how long it will last, and under what circumstances it can be varied or terminated.

Child support: the monthly amount based on the Child Support Guidelines, how special or extraordinary expenses (like childcare, sports, or medical costs) will be shared, and how support adjusts as incomes change.

Parenting: decision-making responsibilities (what used to be called "custody"), parenting time schedules including holidays and summers, and how major decisions about the children's health, education, and religion will be made.

A good agreement also addresses practical details like how future disputes will be resolved (e.g., mediation before court), and what happens if one party wants to move with the children.