Reaching a final agreement with a spouse during divorce can be stressful. Here’s what to know about obtaining a divorce settlement agreement.
Divorce settlement agreements put all the understood compromises and arrangements into formal writing to avoid confusion in the future. Ensure that all parties are satisfied with the agreement before signing because it is a binding document that either party should not breach.
What Is The Purpose of a Divorce Settlement Agreement?
Divorce settlement agreements put any agreements reached between divorcees into writing to memorialize the negotiations about child custody, child support, alimony, and property division. These documents can have several titles, but the most popular and widely-used term is a divorce agreement.
Alternative names include:
- Separation Agreement or Separation and Property Settlement Agreement
- Custody, Support, and Property Agreement
- Mediated Separation Agreement
- Collaborative Settlement Agreement
- Property Settlement Agreement (PSA), and
- Marital Settlement Agreement (MSA)
When Do Spouses Need to Enter Into an Agreement?
Spouses can enter into a divorce settlement agreement before or after separating or filing for divorce. Parties should negotiate an agreement as soon as possible after the separation process has begun. Some parties cannot reach an agreement until the morning of a divorce trial, but the sooner the case is settled, the fewer attorney’s fees need to be paid.
Who Prepares the Divorce Settlement Agreement? Is an Attorney Necessary?
Although there are no official requirements, it lawyer should prepare a divorce settlement agreement to ensure that everything is legally in order and nothing is overlooked. If one spouse’s attorney has drafted the divorce settlement, the other spouse should hire an attorney on their behalf to review the documents to make sure their rights are protected.
Spouses may have trouble recognizing serious problems within proposed agreements or how to phrase their requests in a way that will ensure their interests are protected. Parties who are not legal professionals will likely have difficulty understanding technical terms that hold a lot of significance in deciding the outcome of the separation. To avoid this, hire an attorney from the start of the process to ensure everything runs smoothly.
Related: How to Make aDivorce Settlement Agreement in California
Is it Possible to Settle Everything Before Going to Court?
It is possible and encouraged to settle everything before going to court. Spouses who cannot reach an agreement may end up going to court, where a judge decides all of the settlement’s terms. This court process can be costly and unpredictable, so reaching an agreement beforehand can save spouses time and money.
Spouses who can negotiate terms and reach an agreement before going to court can have an attorney or mediator construct an agreement. However, once both parties sign this document, the settlement becomes a binding contract, requiring both spouses to oblige by all terms.
When is The Right Time to Sign an Agreement? What if Neither Spouse is Satisfied?
Spouses should not sign the first draft of an agreement, as it is only a proposal and a starting point in the negotiation. No one can force parties to sign the agreement, even if attorneys give deadlines to respond.
Being willing to compromise and negotiate is crucial to moving the procedure forward. However, keep in mind that waiting too long also has consequences. Refusing to negotiate or sign anything past the point of reason will cause the opposite party to become frustrated and possibly pull out of the negotiation process entirely.
It is a good idea to hire an attorney to review the proposed Divorce Agreement. Attorneys can propose new terms to ensure all interests are met in future documents. Even if spouses are satisfied and completely ready to move forward with a settlement, it’s important for another attorney to review the agreement to ensure the arrangement is fair for both parties. A second attorney’s review should occur no matter how much pressure is put on each spouse to sign.
Remember that each spouse’s attorney does not represent the opposing party and does not care whether the agreement is fair for them.
Related: Mistakes to Avoid in a California Divorce Settlement
Is it Possible for Spouses to Write Their Own Agreements?
It is not advised for spouses to write their agreements, because spouses can miss important legal provisions or create unclear proposals due to a lack of professional knowledge of the divorce process. If spouses have problems with this agreement, they will need to hire attorneys anyway. Hiring an attorney at the beginning of the process may save time and money.
Related: Marital Settlement Agreement vs. Divorce Decree
Contact Us
If you or a loved one would like to know more about divorce settlement agreements, get your free consultation from one of our divorce attorneys today!