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Divorce Settlement Agreement

Divorce Settlement Agreement

A divorce settlement agreement is prepared in order to memorialize the agreements reached between a married couple that are seeking a divorce. Here is a Buzzle article that shows you what a sample agreement looks like.
LoveBondings Staff
Last Updated: Jun 3, 2018
When one is already facing issues due to a broken marriage, a stressful and complicated divorce procedure can add to the troubles. For a couple going through a divorce, it is essential to come to a mutual agreement regarding who will have the authority of the joint property, debts, and other assets. Such an agreement is called a Divorce Settlement Agreement. However, depending on where you live, a settlement agreement can also be known as Separation Agreement, Separation and Property Settlement Agreement, Mediated Separation Agreement, Marital Settlement Agreement, Property Settlement Agreement, or Collaborative Settlement Agreement.
Regardless of the name, a couple can legally get a divorce by using this document. Using it means you have agreed upon how you will be dividing or handling the property, debts, assets, and other marital issues between the two of you.
Sample Agreement
Since there are a lot of legal issues involved in a divorce like alimony, house loans, pension plans, etc., creating this document is essential to avoid any future complications or issues. Moreover, anything you claim without a proof is considered as a hearsay. Hence, a well-planned agreement can make the divorce proceedings far less complicated.
This Agreement is enrolled on ______________________ , 20___, by and between _________________________________ (Husband) and
_________________________________ (Wife) whose addresses are as follows:
_____________________________________________
_____________________________________________ (Address)
_____________________________________________
_____________________________________________ (Address)

(City) (County) (State)

The parties were married on _____________________________________________.

Due to conflicts and serious differences, they have separated and are presently living separate and apart, and want to continue living permanently apart. They intend to resolve by this agreement their marital matters, including child custody, child support, division of property and debts, and their rights to alimony. Considering these reasons and mutual promises comprised in this agreement, Husband and Wife agree as follows:

1. LIVING ARRANGEMENTS. Husband and Wife will live separately from each other, as if they were single and unmarried.

2.NO HARASSMENT OR INTERFERENCE. Neither party will in any condition harass, annoy or intervene with the other.

3.CHILD CUSTODY. The parties will share in parenting responsibilities; however, physical custody of the minor child(ren), _____________________________________________ shall be granted to the Wife and the Husband shall have reasonable and liberal visitation rights.

The parties will share in parenting responsibilities; however, physical custody of the minor child(ren), _____________________________________________ shall be granted to the Husband and the Wife shall have reasonable and liberal visitation rights.

4. DIVISION OF PROPERTY. The Husband transfers to the Wife as her sole and separate property:
_____________________________________________
_____________________________________________
_____________________________________________

The Wife transfers to the Husband as his sole and separate property:
_____________________________________________
_____________________________________________
_____________________________________________

5. DIVISION OF DEBTS. The Husband shall pay, and will not at any time hold the Wife responsible for, the following debts:
_____________________________________________
_____________________________________________
_____________________________________________

The Wife shall pay, and will not at any time hold the Husband responsible for, the following debts:
_____________________________________________
_____________________________________________
_____________________________________________

6. ALIMONY. The Husband/Wife shall pay alimony in the sum of $ ________________ per ________________, for a period of ________________, or until the Husband/Wife dies or remarries, whichever occurs first.

7. EFFECT OF DIVORCE OR DISSOLUTION OF MARRIAGE. In the event of a divorce or dissolution of marriage this Divorce Settlement Agreement shall, if the court approves, be merged with, incorporated into, and become a part of any subsequent decree or judgment for divorce or dissolution of marriage.

8. FINANCIAL DISCLOSURE. The parties have revealed to each other complete financial information regarding their net worth, assets, holdings, income, and liabilities; not only by their discussions with each other, but also through copies of their current financial statements, copies of which are attached hereto as Exhibits A and B. Both parties acknowledge that they had sufficient time to review the other's financial statement, are familiar with and understand the other's financial statement, had any questions satisfactorily answered, and are satisfied that entire financial disclosure has been made by the other.

9. INDEPENDENT REPRESENTATION BY COUNSEL. Each party has the right to representation by independent counsel. Each party fully understands his or her rights, and considers the terms of this agreement to be fair and reasonable.

10. EXECUTION OF NECESSARY INSTRUMENTS. The parties will execute and deliver any other instruments and documents that may be necessary and convenient to carry out all the terms of this Agreement.

11. ENTIRE AGREEMENT. This instrument, including any attached exhibits, constitutes the entire agreement of the parties. No representations or promises have been made, except those that are set out in this Agreement. This Agreement may not be modified or terminated except in writing signed by both parties.

12. GOVERNING LAW. This Agreement shall be governed by the laws of ________________.

13. BINDING EFFECT. This Agreement shall be binding upon the parties, and upon their heirs, executors, personal representatives, administrators, successors, and assigns.
_____________________________________________
_____________________________________________


      Husband's Signature              Wife's Signature
I hope this sample will give you a fair idea on how to prepare one which will somehow lessen the burden of worries from your mind. Before, making the agreement, educate yourself regarding different elements needed for a successful settlement either by doing little research online or with the help of your divorce lawyer.