A marital separation agreement, also known as a property settlement agreement or marital settlement agreement, is simply a written contract dividing your property, spelling out your rights, as well as settling problems such as alimony and custody. When executed and witnessed properly, it is an enforceable contract between the parties, but is not in itself an undertaking to become divorced. Most parties ultimately do file for divorce, at which time an Agreement would be “incorporated” into the eventual divorce judgment.
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Our Marital Separation Agreement is state-specific. It is a comprehensive agreement that provides many choices, whether you have children or no children. Here is a partial list of sample clauses:
- a spouse’s right to alimony and support;
- who resides in the home;
- the ownership and use of vehicles and other property;
- the ownership of personal property;
- a division of household goods and furnishings;
- a division of cash, bank accounts, IRA’s, etc.;
- insurance coverage;
- the custody and visitation of the children;
- the support of the children (including clothing, activities, school fees, etc.);
- medical insurance coverage and the payment of medical expenses;
- the payment of credit cards;
- the payment of mortgage, utility, and household bills; and
- whether joint or separate tax returns will be filed.
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