Updated: Feb 3
Among the most challenging things in life, one is a divorce. When a marriage falls apart, it involves a lot of pain, heartbreak, physical and emotional stress as well as monetary woes. Altogether, it can take a toll on one’s health. At the same time, this is a part of life and we need to deal with these issues when required. In this context, to facilitate a smooth divorce devoid of ugly turns, it is best to opt for a Marital Settlement Agreement. In essence, the Marital Settlement Agreement is a legally binding contract that helps make proper divisions in resources and property between two parties nullifying a marriage. The process involves demonstrating the rights of both parties clearly. It is followed by an equal division of assets, properties, and debts involved in the marriage. The delicate issues of spousal alimony and child custody are also taken into account. Before designing a Marital Settlement Agreement, one must ensure that the following fields are covered and implemented in the contract.
Assets and Debt Division
Custody Child and visitation
Engaging in conversation to negotiate the terms of a Marital Settlement Agreement with your spouse is better than waging a long-drawn legal battle.
Here are some of the benefits of a Marital Settlement Agreement:
Preventing Adversarial Divorce: Working out a divorce together enables the couple to reach an amicable agreement. Compromises are bound to be involved in the process, but there is room for a more mutually agreeable outcome.
Bars Uncertainty of Outcomes: The agreement is compiled in a written format, discussing every probable issue involved in a divorce. This eliminates the chances of uncertainties.
Short and Conclusive Process: The Marital Settlement Agreement helps things to move ahead speedily, which facilitates a conclusive divorce.
Cost-Effective Process: Contentious divorces are usually an expensive procedure. It involves a longer process of settlement and thus requires hefty fees for courts, attorneys, and evidence discovery. A Marital Settlement, on the other hand, manages costs effectively due to the mutual conditions of the agreement.
Easy Settlement: It helps avoid anxiety and hard feelings and does not always require the couple to visit court proceedings for hearings. The judge can simply give decisions by reading the submitted agreement.
Clarity Over Divorce: A Marital Settlement Agreement clearly defines the objectives and perspectives of both parties. The agreement brings to light the issues which are subject to future conflicts and disputes. The ultimate goal is to prevent future clashes once the divorce is in effect.
Thus, a Marital Settlement Agreement makes it possible to save both time and money in a divorce. It facilitates conclusive, contentious free decisions. It provides a means for effective communication to resolve important issues between the concerned parties. In short, it is one of the most efficient options to choose from to resolve a divorce.
When it comes to divorce, a divorce mediator can play a role unlike any other. Not only do they take the interests of both the spouses into consideration but they also help ensure a mutually respectful outcome.