How to Write a Divorce Settlement Agreement

When you write a divorce settlement agreement, it’s important to work with your soon-to-be former spouse. Remember that what the two of you can agree on in this document can help make the divorce process quicker, easier, and less expensive than a drawn-out divorce trial. You’ll both have to compromise. You both likely will not get 100% what you want. However, with some give and take, you can get through the process. Here’s how you can write the agreement:

• Make sure you have all of the basic information and divorce forms you need according to the divorce laws in your state. If you plan to file for divorce without a lawyer, you can usually find divorce forms on the website of the county clerk or a link to a legal aid website that may also have copies of the right forms. You may even be able to find an outline of a divorce settlement agreement that you can use. If you are hiring a divorce attorney, they will help you draft the divorce settlement agreement.
• Make sure you have all of the personal information you need. You’ll need certain information for you, the other party, and any minor children that are shared between the two of you. You’ll need to list the date that you were married and where you were married. You should also list the date that the separation occurred. List the reason for the divorce, such as irreconcilable differences and that you and your spouse have lived “separate and apart” for whatever amount of time the two of you haven’t been together. You’ll need to list the home address for each party and for any shared minor children.
• Include a statement that you and the other party are in agreement with the contents of the document. This is important because it will inform the court that the two of you consent to the divorce and that you both agree as to how the assets and liabilities will be split as well as parenting time for shared minor children. Your signatures will likely need to be witnessed by a notary when you both sign the document.
• Make a list of the marital assets and liabilities and how the two of you plan to divide them. Keep in mind that you should know whether your state is a community property state. Both assets and liabilities can be joint or separate property. The rule of things is that anything that was acquired (regardless of whether it was a debt or an asset) before the marriage is separate. Anything (regardless of whether it was a debt or an asset) obtained during the marriage may be considered marital property even if only one spouse was involved. That is, of course, oversimplifying the matter. It is very important that you understand how liabilities and assets in your state are treated during a divorce. You will make a list of both assets and liabilities and explain who will take possession of those items. You should also list which items the two of you plan to sell so that you can split the proceeds. For items like cars, boats, homes, and other physical items that are in the names of both parties and that aren’t paid off, one spouse may take possession but also may need to have the item refinanced into only their name. This is the part of creating a divorce settlement agreement that may cause the most problems between the parties. If the two of you absolutely cannot agree or cannot get along, you may need to hire a family law lawyer to help facilitate communication and to help you complete the process.
• Carefully and calmly discuss co-parenting, custody, parenting time or visitation, and child support. If the two of you share minor children, you must carefully and calmly discuss co-parenting, custody, parenting time or visitation, as well as child support. You and the other party must remember that the court will ultimately make decisions if the two of you cannot. The court can even appoint a lawyer to represent the best interest of the children. That is an expense the two of you will be expected to pay. Child custody may be joint physical and legal (where both parents share both physical and legal custody), primary custody (where the children primarily live with one parent and visit the other parent; the other parent may or may not have equal legal custody with the physical custodian), or sole custody (where one parent retains both legal and physical custody). Child support depends on many factors including income of both parents, healthcare expenses, extracurricular expenses, daycare expenses, and how much time the child spends with each parent. You and the other parent may agree on an amount to be paid or no child support. Ultimately, the judge will agree or set the amount of child support as well as who will receive it. If you choose primary or sole custody, it is imperative that you outline visitation or parenting time. Most states have standard and liberal visitation schedules that you may consult.
• Alimony or spousal support. Not every couple will need to use alimony or spousal support. If it is a factor for your divorce, make sure that you explain how much will be paid, to whom, and for how long. If there is no alimony that will be paid, you should state that alimony is waived by the parties.
• Review the document before you sign it. Both parties should read over the divorce settlement agreement before signing it. Look for mistakes of any kind, including a typo or an error. Even small typos can cause a problem in court. You could hire a family law firm and have them review the agreement for errors and to make sure that it is fair to you before you sign it.