Archive for the ‘Marital Settlement Agreements’ Category
What is a Marital Settlement Agreement?
Tuesday, March 27th, 2012A marital settlement agreement will clearly spell out the terms of your divorce and detail your final division of assets, child custody arrangements, amounts of spousal and child support, division of debts and any other relevant issues pertaining to your divorce. Although filing a marital settlement agreement is not strictly required, it has definite advantages for both parties as opposed to waiting until the courts have reached their version of your final divorce decree.
What a Marital Settlement Agreement Accomplishes
A marital settlement agreement does away with the uncertainty spouses sometimes feel during the divorce. Although they may have some idea of what the issues are and how they are being resolved, specific agreements may not be completely clear. A marital settlement agreement clarifies and explains issues, leaving little room for doubt. If the judge honors your marital settlement agreement, you might not even be required to go to court, which most people in the midst of a divorce greatly appreciate.
If your marital settlement agreement is well-thought out and executed, covering all material aspects of your divorce, the judge could approve it as it stands. Even if that doesn’t happen, a marital settlement agreement proves to the court that the parties worked together to thoroughly think through all major issues, allowing your divorce to move more quickly through the legal system. Such an agreement can be entered into between the parties at any time during the divorce prior to the final court judgment then will be filed along with the final judgment.
What a Marital Settlement Agreement Contains
A comprehensive marital settlement agreement will contain specific instructions for the division of property, other assets and debts. The settlement may contain any sort of tax issues or claims for reimbursement for specific items, and will almost certainly contain child support payments, spousal support payments, attorney fees and costs associated with the divorce. Child custody and visitation arrangements will be clearly spelled out and any indemnification agreements the parties have agreed on will also be included in the MSA. The marital settlement agreement could also provide for waiver of alimony, detail the effects a reconciliation would have on the details of the divorce, and may include a waiver of rights, including in regards to a deceased spouse’s estate.
The Need for Independent Legal Representation
While not a legal requirement, it is smart for each party to have their own attorney in order to narrow the possibility of having the agreement voided down the road. Courts will carefully scrutinize marital settlement agreements whenever one party is not represented by legal counsel. If one spouse refuses legal representation, then they should be required to sign a statement which says they refused legal advice.
Limitations of Marital Settlement Agreements
Marital settlement agreements are unable to absolve either party of the statutory requirement for child support, and cannot limit the court’s jurisdiction regarding custody interests in what they feel are the best interests of the children. The MSA cannot waive financial obligations of either party and must comply with all principles of contract law. Further, the consent of each party regarding a marital settlement agreement must be entirely voluntary, made with full knowledge and without any type of influence or duress. Not all agreements regarding pension plan divisions can be upheld in a MSA.
It’s important to understand not only what an MSA can do for you, but what it can’t. To this end, be sure you have retained an experienced divorce attorney who can give you sound advice on whether a marital settlement agreement is right for you, and how to proceed if it is. It’s always better to have legal representation during your divorce, no matter how friendly you and your ex have remained.
If you or someone you love is considering filing for divorce, we can explain your rights and guide you through the appropriate divorce process. At Eric N. Klein & Associates, P.A., our Fort Lauderdale divorce attorneys are dedicated to providing the legal help our clients need. To learn more about what we may be able to do for you, contact us today by calling 954-580-8080.
The Benefits of an Uncontested Divorce Filing In Broward County Divorce Court
Monday, April 25th, 2011A divorce can be one of the most painful life experiences, and the frustration of a long court battle with high court costs and legal fees can add insult to injury. Fortunately, expensive court battles are not inevitable. If you can agree on how to resolve the issues in your divorce, you may be able to obtain an uncontested divorce in the state of Florida. Many of the most unpleasant aspects of the divorce process may disappear in an uncontested divorce including:
- Bitter conflict over property division
- Contentious spousal support issues
- Time consuming court hearings
- Expensive litigation
Uncontested divorces in Broward County finalize quickly and often require only a single party to stand before the judge for a short hearing. A single lawyer that represents one of the parties can draft a Marital Settlement Agreement resulting in substantial savings in time and money.
The challenge is that an uncontested divorce must in actuality be uncontested. This means that you and your spouse have already agreed upon the division of property, debts, child custody (now called “timesharing”), and whether alimony needs to be paid and in what amount. This can be difficult if either party feels the only way they will receive their fair share is by going to court and having an objective third party divide assets. Alternately, emotions run high and sitting down with your spouse to discuss property and asset division can be upsetting and ineffective.
It should be noted that a contested divorce is far more expensive and time-consuming. Rather than a single attorney providing assistance in drawing up forms, both parties will typically hire legal counsel to handle litigation in court. While the judge will attempt to divide property fairly, no one outside your marriage is as aware of your property and lifestyle as you and your spouse. While an uncontested divorce is often charged at a single flat fee to have everything done, a contested divorce typically means that you will be paying by the hour for as long as it takes to resolve your divorce.
If you have any of the following issues, it is imperative to seek legal advice from an experienced Florida divorce lawyer:
- Minor children
- Real property including a family residence
- A long-term marriage
- Significant debts or financial obligations
- Any type of deferred compensation plan (i.e. 401K, military retirement, pension, etc.)
- Ownership of a business
- Significant intangible or hard to value assets
Any of these issues can complicate a divorce considerably so it is essential to obtain legal advice from an experienced Florida family law lawyer before agreeing to any final settlement of your divorce. If you think that you and your spouse have worked out all issues or that you are close, our experienced family law firm can evaluate your agreement and analyze it for weaknesses or potential problems. We can advise you regarding how a court would likely resolve certain issues to help you negotiate a settlement with your spouse.
We provide an initial no obligation free Florida divorce consultation.
If you or someone you love is considering filing for divorce in Broward County, or has any other family-law-related needs, a meeting with a compassionate Fort Lauderdale divorce lawyer from Eric N. Klein & Associates, P.A. may be able to help. To discuss your needs with us in detail and learn more about what we may be able to do for you, please contact us today by calling (954) 580-8080.
