During the process of a divorce, it becomes necessary for the two parties involved to agree on the splitting of property that they shared during their marriage. They may also be compelled to reach various other types of agreements and settlements, such as those involving child custody, alimony and/ or child support payments, and other factors that go along with the division of the marriage and household. So, how can a marital separation agreement be drafted to take account of all of these factors?
Drafting a Marital Separation Agreement
A marital separate agreement is a written contract between the two parties, which spells out all necessary details regarding decisions about how issues should be handled before divorce. Both parties should be involved in the drafting of the agreement, and ideally it is done with the full cooperation of both; in situations where an amicable discussion is not possible, lawyers from both sides can also represent their clients’ wishes and draw up the agreement. In a best case scenario, though, it is done by the parties themselves; the agreement can even be created before the divorce takes place.
What is included in a marital separation agreement will depend entirely upon the parties involved and their priorities and financial status. In general, however, the agreement can cover everything from the division of property (houses, cars, material goods, bank accounts), to the division of debts (credit cards and mortgages), to the division of tax benefits, pensions, and support payments of all types.
Other details can be included in the agreement, too, and sometimes make the divorce process go much more smoothly.
- The point of the agreement is to settle any arguments that may come up, so the couple should also attempt to include any information that may be disputed in the future.
- For example, if the couple decides they want to file a no-fault divorce, this statement can be included in the marital separation agreement so that it’s officially in writing.
- Any other stipulations, decisions, or personal agreements that are made by the couple and that may come in handy during the divorce can be included in the agreement as insurance against future confusions and arguments.
- It also never hurts to have the document notarized, and/ or run it past a lawyer, even if the divorce is not officially in progress at the time the contract is completed; this will help authenticate it and make sure it’s legally binding in the future.
Getting Legal Help
The goal of the marital separation agreement, in short, is to protect the rights of both parties and ensure that the process of a divorce goes as smoothly and fairly as possible. It is advisable to have an attorney assist you in drafting the agreement and in making sure all of your legal rights are protected.
