Going through a divorce can be a confusing legal maze. A divorce agreement can lessen some of the headaches. Here’s how to make a divorce settlement agreement in California.
A divorce settlement agreement is quite straightforward. It legally documents all the agreements made between spouses about divorce terms before the divorce is finalized. Work with an attorney or mediator to create the agreement. The agreement should establish the division of assets, custody and visitation, and child support, and spousal support. As this is a legally binding contract, be specific and thorough to avoid future issues.
What is a Divorce Settlement Agreement?
A divorce settlement agreement is a legally binding contract that documents the decisions and agreements made between spouses before finalizing a divorce. The agreement may address issues pertaining to the divorce such as division of property and assets, child custody, alimony, and the like. The divorce settlement signifies that both spouses agree to specific terms of the divorce, rather than the conditions of divorce being decided by an outside party, like a judge.
When both parties sign the divorce agreement, they enter a legally binding contract and thus must comply with the terms of the agreement. If either party breaches the contract, the other party may seek remedial damages.
Related: 5 Things to Consider in a Divorce Agreement
How to Write a Divorce Settlement Agreement
1. Set the Foundation
Gather the Divorce Settlement Agreement form from the state of California. If possible, hire a lawyer to help work through the legal language and avoid missteps.
To begin the document, establish all the details of the marriage, including:
- Date of the marriage
- Date of the separation
- Names and ages of any minor children
- Reason for divorce
- Living arrangement and address(es)
2. Write out the Agreement
In this section, establish that both parties accept the terms of the agreement. Signing the agreement signifies that the contract is legally binding.
3. Divide Assets and Debts
In this section, identify any and all joint assets and debts accrued during the marriage. This is where all the details of dividing assets and debts will be ironed out. Only marital assets and debts are up for division during divorce. Separately owned assets are not subject to division during divorce.
Communicate with your spouse to determine the division of all assets, like a house, car, sports equipment, etc. Next, determine the division of jointly owned financial assets, like bank accounts, investment portfolios, etc. After, move on to the division of joint debts, like mortgages, credit card debts, etc.
4. Plans for Custody and Visitation
In this section, settle agreements about children who are still minors. Decide between sole custody, split custody, and shared custody depending on what is best suited for the situation. For split and shared custody, determine the arrangements and amount of time children spend with each parent.
For sole custody, determine visitation rights for the non-custodial parent. Be as specific as possible in this section to lessen the possibility of complications in the future.
5. Child Support and Spousal Support
In this section, outline the agreements for child and spousal support. It is not possible to sign away a child’s right to receive child support. However, it is possible for a spouse to waive their own right to spousal support.
Use a child support calculator to determine the minimum amount of child support to be paid. Use the California child support calculator here.
6. Read over the agreement carefully with a lawyer
Review the Divorce Settlement Agreement very carefully with the attorney or mediator. Since this is a legally binding contract, it is imperative to catch all mistakes to avoid legal battles in the future.
7. Finalizing the Agreement
After signing and finalizing the Divorce Settlement Agreement, the spouses must submit the agreement to the court for a judgment of divorce or legal separation.
Related: Marital Settlement Agreement vs. Divorce Decree
FAQs
What is a divorce settlement agreement?
A divorce settlement agreement is a legally binding contract between spouses that determines the conditions of the divorce. It ensures that both spouses uphold their end of the contract for the divorce.
What goes into a divorce settlement agreement?
A divorce settlement agreement documents all terms of divorce like division of assets, custody and visitation, and child and spousal support. The agreement must be very specific and clearly outline the division of property.
Do I need a lawyer for a divorce settlement agreement?
Not necessarily, but it is highly recommended to consult a lawyer when writing the divorce settlement agreement. Since this agreement is legally binding, any errors and oversights may lead to further legal challenges. Consulting a lawyer can help lessen the possibility of error.
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