The following items should be included in a divorce settlement. Use our complete checklist below.
What Is A Marriage Settlement Agreement?
A marriage settlement agreement, also known as a property settlement agreement, is a comprehensive list that covers all terms of a divorce. While this document is not reviewed by the courts before it grants your divorce, the court will still verify a few things.
The court will ask if you are willingly entering into the agreement, and that you are waving your right to a trial by entering into this agreement. A private agreement is popular for married couples hoping to avoid a lengthy and costly divorce trial. Let’s take a look at what items should be on your settlement checklist.
Divorce Settlement Checklist Example
When coming up with an extensive marital agreement checklist, you’ll want to consider all aspects of your life in the event of a divorce. These are some key items to consider at this time.
Documentation
❒ Gather all financial statements, including bank accounts, credit cards, loans, and retirement funds.
❒ Wills.
❒ Business account records.
❒ Tax returns
❒ Insurance policies like health and life insurance.
❒ Trust documents.
❒ Title and deed to the house.
❒ Any home or children-related bills.
Children
❒ Child support.
❒ Custody.
❒ Parenting time and schedule.
❒ Life insurance.
❒ Stepchildren visitation.
❒ Grandparents visitation.
❒ Educational finances.
Real Property
❒ The value of any current real property.
❒ Divide the property accordingly.
❒ Who will reside in the primary residence?
❒ Will either spouse be bought out of the property?
❒ Will the property be sold?
❒ Equity in the property.
❒ Other real property assets.
Assets And Liabilities
❒ Bank, investment, and retirement accounts.
❒ Credit card and/or student loan debt.
❒ Businesses.
❒ Vehicles.
❒ Stocks and bonds.
❒ Mortgages, HELOCs, or other loans.
Spousal Support
❒ Does the situation call for alimony?
❒ How long will the alimony last?
❒ How much should the alimony be?
❒ COBRA.
Other Legal Considerations
❒ Name change.
❒ Child or domestic abuse.
❒ Attorney fees.
Source: “The Marital Settlement Agreement Checklist” Keith Family Law https://keithfamilylaw.com/marital-settlement-agreement-checklist/
Need Divorce Attorneys In Scottsdale?
The High Desert Family Law Group should be your first choice when you need the best divorce lawyer in Scottsdale or Phoenix, Arizona. Our experienced family law attorneys will work with you to obtain the best possible outcome in your situation. Proven trial lawyers in family court, you can trust the firm to represent you fully so you can get on with your life. Call today for your initial consultation.
