Going through a divorce can be tough for anybody. Coming to terms with a failing marriage that one or both of you don’t want to work to repair is tough. There are a range of emotions involved, as well as heartbreak, and stress. Reaching the goal of creating a legally binding divorce settlement agreement that you and your spouse agree on can feel overwhelming. The five tips below will help you put together a final divorce agreement that you and your spouse can agree on.
Begin with the basics
To start with, obtain the mandatory legal forms from your province, state, or courthouse’s law library. As with any other kind of legal agreement, a final divorce agreement begins by stating the name of you and your spouse as you are the only parties who are involved in the agreement. Make sure that you collect the necessary legal documentation, as well as instructions to guide you through the process.
Include every detail in the divorce settement agreement
To make the divorce process less stressful, gather every detail about your marriage, including:
- The date when you tied the knot
- The date when you separated
- Any names and ages of minor children in your marriage
- The reasons for divorcing
You will also need to share your current living arrangement.
Confirm your final divorce agreement
Once you have provided all relevant information regarding your marriage, the next step is to accept the terms of agreement which you can find in this document. Once you have both signed the final divorce agreement, and your witnesses have signed theirs too, this will make the contract authentic and legally binding.
Establish and divide assets
The next stage is to address you and your spouse’s finances. You will need to establish which assets you each own, as well as any current debts.
There will be some possessions and debts that you both share and others that are personal (or separate). In general terms, any assets or debts that were owned by one spouse before the marriage will remain as their separate asset.
As a couple, you may have accumulated several assets, such as a house and car. If you run a family business, there are other areas of divorce settlements that you will need to know about.
Within the final divorce agreement, create a parenting plan
If you and your spouse share children, you will need to sit down and discuss whether you want to go for sole, split, or shared custody. While sole custody tends to be the most traditional choice, more and more divorced parents are deciding on arrangements that allow the kids to live with both parents.
Spousal and child support are other areas to attend to so that your child is financially supported for a high quality of life. If you have the finances to do so, there are areas of extra support to include too, such as expenses for music lessons or orthodontics.
Concluding words on a divorce settlement agreement
As a legally binding document, a final divorce agreement covers a variety of topics, such as spousal support, child support and division of property. Understanding what each one involves will help you get the best document possible for everyone involved.
While going through a divorce can take its toll, it’s much better to be civil with your spouse, rather than go through a hostile divorce process. The tips above will help ensure that all loose ends are tied up, helping to make sure everything runs smoothly.