When a couple decides to file for a divorce petition after being married for several years, it is actually a big phase in their life. It is not like you decide to get divorced from your spouse at the spur of a moment. There is always some reason behind a divorce case. Hence, a lot of effort is made by both parties when there is a question of getting a divorce, especially if they have children.
Most couples in the US do not prefer arguments and unnecessary fighting over divorce proceedings. What couples prefer nowadays is a hassle free divorce. This is the reason why most couples are getting divorced on mutual terms and decide to go for divorce proceedimngs without going to the courtroom. It is always better to file for a divorce petition in your local court along with a divorce agreement.
This agreement is one of the legal papers that need to be completed and signed by both parties involved. It usually deals specifically with life after the divorce and how both the parties will take care of their children and fulfill their duties and responsibilities towards each other or anyone who are under their care. The agreement generally include clauses such as maintenance of either the spouse or the children or both,division of the assets including fixed assets and custody of children and visitation and guardian rights. It is an agreement that can be drawn up by a lawyer or can be made by the two parties on their own.
Going through a divorce process is difficult for many couples. But with the knowledge of proper legalities and procedures, things can become a bit easy for you to handle the whole situation. So, here is a detailed analysis of the agreement that is made during the divorce process.
First have a look at the general terms included in the agreement. The general terms include:
- Names of both the parties involved in the divorce case
- Addresses of both the parties involved in the divorce case
- Date and Place of Marriage
- Names and dates of birth of children
- Reasons behind divorce
- Purpose of Agreement and intent of parties
Some of the key issues covered in these types of legal agreements:
Child Issues: Here a permanent plan is made that offer details on how much time a child will spent with each parent, with whom the child will stay in case of holidays, and other child related issues will be covered.
Custody of Minor Children: Here it will be mentioned about whether there the custody of the child will be given to one of the parents or joint custody.
Child Support: Here details about monthly payments for children, circumstances when amount would be increased, reduced, suspended or terminated, education expenses will be mentioned.
Tax Exemptions for Dependent Children: Here info on child tax credit will be mentioned along with who will be making the payments.
Medical Insurance: Here the medical expenses of children will be covered and how both the parents need to handle the situation.
Spousal Support: Monthly payments, amounts, dates payable, length of time, circumstances when increased, reduced, suspended, terminated or on a cash settlement are also mentioned in such legal agreements.
Real Estate: List of family residence, vacation property, business/rental property and how it will be divided and who will get what.
Personal Property: List of household items; furniture; vehicles; stocks, bonds, other securities and investments; checking, savings and other bank accounts; all retirement accounts/investments; will be mentioned along with the proper division pattern of assets.
Along with these, there will also be special provision for debts, income tax benefits, outstanding suits, and so on.
Note: As each couple have their own set of differences, list of property and financial condition, it is obvious that each of the legal agreement between couples getting divorced will be different. Every agreement should be carefully drafted and must be reviewed separately by each party with his or her respective attorney. Also violation of the terms mentioned in a divorce agreement is against law.
To get some idea as how a divorce agreement looks like, you can check this video:
To help of understand what is there in such legal papers, here are some samples.
To see a divorce agreement sample for Michigan, click here.
To see a divorce agreement sample for Hampshire, click here.
To have a look at a divorce property settlement agreement, click here.
To see a sample form of divorce agreement for the State of Tennessee, click here.