Divorce settlements are utilized to help couples come to a fair allocation of all marital assets, as well as marginalize any undue costs. Settlements will also include issues that pertain to any involved children. In fact, divorce settlement agreements will outline very specific determinations on each and every marital asset and any debt the couple has incurred. While some agreements distribute all marital assets equally, others do not. Frequently, those determinations are made according to the type of divorce, grounds utilized for divorce and length of marriage.
In addition, determinations are made in accordance with state laws from the state in which the divorce is taking place. On issues that relate to children, all decisions must be made in the best interest of the children and sometimes those decisions do not match the desires of the parents. In simple divorces, couples have not be married for any real length of time and assets are generally returned to their individual owner. Any marital property is then likely to be divided equally.
In order to take part in simple divorces, couples cannot have children and therefore, the process is much more simple. In non-contested divorces, couples are also likely to distribute their assets equally. If couples take part in an uncontested divorce, they must agree to any variation on distribution of marital property or it becomes converted to a contested divorce. In contested divorces, the judges who are presiding over the hearing maintain some discretion as to the manner in which marital property is distributed.
Simplified divorces do no involve any children and therefore determinations are extremely manageable for all involved parties. However, some divorces include many complicated issues which necessitate a very detailed and extensive divorce settlement agreement. In fact, any marriage that involves children, generally requires that couples have a long and detailed agreement. Those preparations and clauses are detailed enough that parents can avoid any confusion as to the orders laid out by the court.
There is no room for error when interpreting such important information. Even in cases that involve such complicated issues, couples are still sometimes able to come to an agreement on their own. In fact, couples that strive to remain amicable, often attempt to reach a settlement in the absence of court intervention. At any time, couples can decide to enter into court proceedings and allow the judge to make all determinations.
An uncontested divorce converts to a contested divorce if a couple has found themselves unable to agree on all issues. However, couples that do reach a mutual agreement on all issues, simply need court approval of their divorce settlement agreement before it is in place. Divorce settlement agreements are very clear and concise, which helps couples avoid any confusion as to the clauses contained within. In fact, divorce settlement agreements often leave no room for misinterpretation. Judges make sure that the couple has a very clear understanding of each and every clause contained within the agreement.
Many states have restrictions in place so that judges only really have limited discretion when making determinations. In any case, judges must approve divorce settlements for them to go into effect. Judges are likely to approve any settlement in which couples worked together to agree on the terms, in the absence of fraud. In addition, the judge is likely to want assurance that both individuals entered into the settlement willingly, in the absence of duress. If all of those qualifications are met, couples can often design their own divorce agreement in the absence of state laws that allocate property distribution. Whereas, a judge’s determinations would have to be based on those laws and regulations.
Divorce settlements are the final determination on marital property and child related issues. In fact, it is quite difficult to modify the settlement. Modifications can only be requested if circumstances change drastically for any family member. Yet, many couples entering into a divorce fail to understand the behavior of their collective liquid assets upon a finalized divorce settlement. Both IRA’s, as well as many non-liquid assets are due to severe taxation. In addition, subsequent to a divorce settlement, the capital gain accrued by both spouses are liable to be taxed against any joint assets.
no-fault divorce, are unable to take those factors into account when writing their divorce settlement agreement. no-fault divorce simple means that the couple has chosen to end their marriage and their divorce settlement agreement can not be changed based on any outside factors such as accusations by either side. In general, no-fault divorces involve an equal distribution of all marital property. In fact, judges are not likely to approve any agreement in which either spouse seems to have been treated unfairly. Judges have the final say on approving all divorce settlement agreements.
In that case, the victim will likely try to get larger awards than they would otherwise get. Unfortunately, the length of time spent in litigation and extra fees, often negate any added benefits found through this type of divorce.
Sample Divorce Settlement:
A sample divorce settlement agreement can be a great tool for couples that have decided to divorce. If couples are striving to exist in an amicable fashion, they can utilize the sample to open honest discussions regarding their desires for distribution of marital property. In fact, sample agreements often show couples that there are many factors that they may not have thought of previously. Couples utilize the sample to ensure that each individual has realistic expectations regarding the final outcome.
In this way, couples that choose collaborative family law to reach their agreement, have already given careful consideration to the many clauses contained within the agreement. In contrast, divorces sometimes necessitate court intervention. In that case, individuals may wish to examine sample agreements in order to be better prepared when they see their divorce attorney. Sample settlement agreements display detailed examples of clauses that are generally found in divorce agreements. In fact, some couples utilize many of the clauses from the sample to help them write their own agreement.