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Jessica Culver, a family lawyer with Dummit Fradin, explains the concept of a separation agreement, which is a contract between parties addressing issues prior to divorce. It can cover property division, spousal support, and other matters identified during an initial consultation. A separation agreement is beneficial as it can simplify the process, avoiding trials and court procedures. Additionally, it allows for some issues to be resolved amicably while potentially taking other disputes to trial. Ultimately, it serves as an effective tool for resolving matters without needing court intervention.