More couples across the UK are choosing to live together rather than make their relationship formal through marriage or a civil partnership. When these less formal relationships break down, it's just as important that each partner is fairly treated and that assets are split equally.

Why a separation agreement is important

The break-up of a partnership is no less painful because it isn't a formal arrangement. You may still own property jointly, have children together and share investments and other assets. In order to make sure that both sides are treated fairly, get advice about putting together a separation agreement. Whilst you don't have to take formal legal proceedings as married couples do with a divorce, you may feel more comfortable with a signed agreement that sets out your rights and responsibilities for the years ahead.

What can a separation do for you?

Many non-married couples have lived together for many years and have joint ownership of their homes, bank accounts and entitlement to pensions. It's just as important that they can split these assets fairly as it is for married or legally joined couples. Whether you are a heterosexual or same-sex couple, a separation agreement can help to make the split easier and less acrimonious:

• Children – if you have children, you need to make it very clear how they will be cared for. Whether you share the caring between you, or have a primary carer with visitation and holiday rights for the other partner, it always helps to discuss this amicably and get everything set out in a straightforward manner.

• Property – making sure you get a fair share of your property is important, because it's probably the biggest asset you have. You may decide to sell straightaway and split the proceeds, or one partner may continue to live in the home, with another allocated a share of the proceeds when the sale goes ahead. In this case, you also need to make sure you have decided who is taking responsibility for the mortgage and other related payments.

• Finances – if you are entitled to a share of your partner's pension, this also needs to form part of the separation agreement. Your solicitors, together with mediators if you need them, can help you to come to a fair agreement on how your pensions and investments are shared between you. This would also apply if you have shared business interests.

If you need help to get a faster sale for your property during separation, contact us at Discount Property Auction. We're committed to helping you, whatever your circumstances. If you want to sell your home, you can use our dedicated online auction facility, which allows you to upload your property yourself and put it in front of genuine, interested buyers. Call us now on 0800 1313 999 or email admin@discountpropertyauction.co.uk to arrange a valuation today.