Marital Settlement Agreements Explained

For about half of all people who are married in the US, divorce will be something they will face one day. Some of the factors that make divorce such a difficult time involve making decisions on who will receive custody of children and pets, who will take over the property or other major items, and other personal matters. While there are some couples who cannot reach any compromise, others are more amicable in that they can work out the terms of their divorce through a marriage settlement agreement.

Examples

Those couples seeking a marital settlement agreement tampa or other areas will need to reach a number of decisions in which both parties can agree. Some of the more challenging issues may involve pets and children. The legal document will lay out all custody and child support decisions and will specify clear visitation, co-parenting, and living arrangement guidelines. The same is often true when pets are involved, mainly around living and visitation rights. When the discussion turns to property, each party needs to come to an agreement on who will take over the home(s), and this often involves either a mutual decision to sell and split the profit, or one spouse will buy out the other for a predetermined value as dictated by the value of the home and status of the mortgage. Other points may include outstanding debts and spousal support decisions.

Benefits

While divorce is never fun, reaching an amicable agreement can make the process much easier and less painful. When an agreement is reached and both parties have signed off on the legal document, it can reduce the time spent in court and move the case through the system quickly and efficiently. This allows both spouses, and their children, to move forward with less pain and uncertainty.

When both spouses can work together to create a deal that will be beneficial for all involved, it sets a positive tone for the relationship after the marriage has ended. This is especially important when children are involved, making a marriage settlement agreement the ideal way to end a marriage.