A divorce settlement agreement is a legal contract that is mutually prepared by a married couple going through a divorce process. The agreement describes in specific detail how the couple will divide the marital assets and handle family responsibilities after the divorce has been finalized.
This agreement covers a range of components, ranging from spousal and child support, child custody and visitation rights, division of assets and debts, and others.
What is a Divorce Settlement Agreement?
A divorce settlement agreement is a legally binding contract that specifically outlines the agreement between a couple planning to get a divorce. The agreement outlines the details of the division of properties, debts, assets, child custody, child support, and others.
There are specific requirements that make a divorce agreement enforceable. It is more than just listing the division of properties and other details. It must conform to the requirements that have been established by the state where the divorce has been filed.
It is recommended that you consult with a divorce lawyer or a legal professional in the state. There are specific elements that a mutual divorce agreement should contain. These include the parties involved in the divorce; the ground for divorce; property division; child custody and support where relevant; other agreements between both parties.
Going through a divorce process is difficult in itself and drafting a divorce settlement agreement can make it more challenging. Using a divorce settlement agreement template is a great way to minimize the stress of writing a contract on your own. You can find a reputable platform online that offers a free property settlement agreement template that you can use.
Why Do You Need a Divorce Settlement Agreement?
A divorce agreement is highly recommended if you do not want to be left at the mercy of a judge or jury. Without an agreement, the parties have to present their case before a judge and settle for the decision of the judge. This is a risky approach as you cannot control the decision of the judge or jury.
Also, when divorcing partners cannot agree on the divorce terms, the divorce process would cost a great deal more in terms of legal costs. This is because there would be a need to engage attorneys and in some cases, some other professionals.
However, with a divorce settlement agreement, you may not require the service of an attorney or waste time on litigation. The best part is that you do not have to draft the agreement from the scratch. You can always find a divorce settlement agreement sample online. These templates can be edited and customized to suit your specific purpose.
Your divorce agreement must contain everything relating to the divorce to avoid litigation in the future. Additionally, you should check the requirements of the state where you are filing for divorce to know what is required in the divorce template.
What should be included in a Divorce Settlement Agreement?
There is no one-size-fits-all when it comes to a divorce settlement agreement. The terms of the agreement between the parties would be different from one couple to the other. The divorce agreement for a couple with children and lots of assets and properties would also be different from the agreement between parties with none.
However, some basic elements should be included. Some basic components that you can find in the divorce agreement template include the following:
- The parties involved in the divorce agreement, both parties attorneys, the children (where relevant).
- Division of assets, property, debts, child custody and support, and visitation rights.
- The jurisdiction of the court where you are filing for the divorce.
- The date of the divorce and signed by the judge.
- The grounds for divorce.
- The details of the divorce settlement.
The content of a divorce agreement should contain these elements. You can find options of divorce agreement samples that you can choose from. This makes it easy to complete your divorce process with one less thing to worry about. All you have to do is customize the contract to suit the circumstances surrounding your divorce.
Tips for Writing a Divorce Settlement Agreement
If you want to write a divorce settlement agreement from scratch, there are some important tips you can follow. Let us look at some of them.
- Discuss with your partner the terms of the agreement. This is very important to avoid any contest. If you and your partner agree on the terms of the divorce agreement, it will be easier to draft an agreement without much stress. The fact is that you can choose to use divorce agreement samples to complete your divorce settlement agreement without using the service of an attorney.
- Check the State’s Requirements: Each state has its requirements when it comes to divorce proceedings. Ensure you incorporate all these into the documents that you want to file, including the mutual divorce agreement.
- Both Parties should declare their assets to avoid future litigation: When it comes to property division, parties should declare the specific assets that they have. This is where you may need the service of an attorney.
If there are inheritances and some properties acquired individually, you have to discuss with your attorney to know if these should be part of properties that would be divided.
A divorce is an emotionally draining process but it is a necessary step that some couples have to go through. If there is any way you can alleviate the stress, the smart choice is to explore the option. Using a free property settlement agreement template is great when it comes to property division and other settlement arrangements.
Agreeing on the terms of divorce significantly reduces the stress of the divorce process and parties can avoid long-drawn court sessions. It will also minimize cost as you may not require the service of an attorney to complete the divorce agreement.