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Sample Divorce Settlement

Sample Divorce Settlement

A sample divorce settlement will generally include many of the same clauses, even though state divorce laws vary.

The agreements will first state basic information that pertains to involved individuals.

That information will include name verification, social security number, date of birth, and legal address.

Next, the document will have each individual attest to the fact that they committed honest dealings during the completion of any divorce settlement agreements.

Each individual must also sign a statement that they disclosed all assets and debt before taking part in the agreement.

In addition, each individual must attest to the fact that they willingly entered into the agreement in the absence of duress or pressure from anyone, including the other spouse.

These items are especially important for couples that come to an agreement in the absence of court intervention.

Judges will want assurance that both couples understand and agree with all of the clauses contained within divorce settlement agreements.

Finally, divorce settlement agreements contain very specific clauses as to the distribution of debt, property and assets.

In addition, divorce settlement agreements will contain clauses that relate to all child-related issues and spousal support. These very specific clauses will vary with each divorce.

A sample divorce settlement would show that there is no specific ownership attributed to each piece of marital property. Primarily, any basic disputed property such as clothing and furniture will be listed within the agreement.

Each individual will have a column that lists ownership for specific items after the divorce. In addition, a sample divorce settlement makes specific allocations for property such as automobiles; including cars, boats, and ATVs.

Generally, individuals retain ownership of vehicles that they have been utilizing throughout the marriage. For shared property, the item must either be sold or bought out by one spouse that will retain the item.

Sample divorce settlements also show a specific allocation for all bank account investments and retirement plans.

In some cases, couples continued to maintain individual bank accounts throughout the marriage and they will likely retain ownership after a divorce.

In some sample divorce settlements, the marital residence is maintained by the individual that is raising the children, but equity will be equally distributed once all children have turned 18 and left the household.

A sample divorce settlement agreement can be utilized by couples that are trying to handle the process on their own.

By examining the document, they can be sure that they thoroughly consider all clauses that should be contained in their own agreement.

However, couples that have hired attorneys, generally only have to look over their divorce settlement agreement after it has been prepared. In fact, the judge will make all of the final determinations and the couple has to abide by those decisions.

For couples that wrote their agreement in the absence of court intervention, the judge only has to approve their agreement.