Contents Of Settlement Documents For Divorcing Couples

Divorce is often painful but it doesn’t have to be messy. If the erstwhile couple can discuss matters with a level head, then they may be able to agree on a settlement with each other. The settlement documents will provide the details of their separation including what they wish to happen with matrimonial assets and the children. The longer two people have been together, the more challenging it can be to untangle everything when they decide to go separate ways. A solicitor will be able to provide much needed assistance as the family goes through the process of uncoupling.

Division of Matrimonial Assets

Matrimonial assets are things that the couple acquired during marriage. This excludes homes, cars, and cash that they owned before tying the knot. This will include the family home if bought after the wedding. It will also involve the couple’s savings, pensions, vehicles, furniture, appliances, businesses, stocks, bonds, mutual funds, jewelry, and so on. Even debts are considered as joint responsibility unless these were incurred prior to the marriage. These can be divided 50/50 but factors could sway the favor one way or the other. There are also things that are difficult to divide exactly in half such as the family home, unless they sell it and split the money.

Spouse and Child Support

Children who are still minors may need financial support to see them through school and help them become gainfully employed adults. One spouse may also require the support of the other for a certain period after the divorce. For example, this person may have stopped working for many years to focus on the family so it may take time find a new job. The one who has a stable income may provide monthly support until it is no longer necessary. The amount will depend on the needs of the receiver and the capability of the provider.

Child Custody and Visitation

This can be a thorny subject particularly if both parents are close to the children. Different types of arrangement are possible. Some might divide the children among themselves. Others will let them stay with the parent who lives closest to their schools. Many default to having the woman take care of the kids, especially if they are still young. Visitation can restricted to certain days and time periods. There may be limits on where the children can be taken without the consent of both parents.

Study sample settlement documents to learn more about them.

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