avigating Your Divorce Settlement Agreement | Appraisal Partners

Appraisal Partners: Your Guide to Divorce Settlement Agreements

A divorce settlement agreement, also known as a marital settlement agreement or divorce decree, is a legally binding contract between divorcing spouses. It details how assets and debts will be divided, establishes financial support arrangements, and outlines custody and visitation schedules if children are involved. www.appraisalpartners.com

Components of a Divorce Settlement Agreement Asset Division: This section delineates how marital property, including real estate, investments, vehicles, and personal belongings, will be divided between spouses. It often involves careful negotiation and consideration of each asset's value and significance to both parties.

Spousal Support: Alimony or spousal support may be included in the agreement to provide financial assistance from one spouse to the other following the divorce. The amount, duration, and terms of spousal support payments are typically specified in the agreement.

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Child Custody and Visitation: If children are involved, the agreement addresses custody arrangements, including legal and physical custody, visitation schedules, and decision-making authority regarding the children's upbringing. The goal is to prioritize the children's best interests while fostering cooperative co-parenting.

Child Support: Financial support for children is another critical component of the agreement. It includes provisions for the amount and frequency of child support payments, as well as responsibilities for covering healthcare, education, and extracurricular expenses. www.appraisalpartners.com

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