Marital Settlement Checklist

[I AM ALWAYS LIABLE]

MARITAL SETTLEMENT AGREEMENT CHECKLIST

These are the types of topics that should be addressed in a Marital Settlement Agreement. A separate, numbered, paragraph for each item should be written into the agreement. Some of the following topics may not be addressed, depending upon your actual situation.

FACTUAL RECITALS
. Identity of parties and minor children
. Statistical facts of marriage
. Dissolution proceeding contemplated or filed
. Each party's employment (or, in the case of an unemployed party, employment
background, skills, etc.)
. Each party's current earnings
. Each party's age
. Health of parties
. Finality of agreement, or issues left unresolved
PROPERTY DISPOSITIONS
. Identity, value and disposition of community and quasi-community property
. Identity, value and disposition of noncommunity property joint tenancy and
tenancy in common interests
. Confirmation of each spouse's separate property interests
. Fam.C. Sec. 2100 et seq. declarations of disclosure (including current
income and expense declarations)
. REA waivers (waiver of survivorship benefit rights in other spouse's ERISA
pension)
. Waiver of rights in deceased spouse's estate
. Sale of property (and/or deferred sale re, e.g., "family home award")
. Warranty: disclosure of property
. Warranty: value of property
. After-discovered property
. Disposition of furnishings and personal effects
. Allocation of debt responsibility; "hold harmless" clauses
REIMBURSEMENT CLAIMS
. Contributions to education and training
. SP contributions to the "acquisition" of CP
. Payments on debts
. Property improvement payments
CUSTODY AND VISITATION
. Sole custody (legal and/or physical)
. Joint custody (legal and/or physical)
. Other custody arrangement: shared custody; split custody
. Reasonable visitation; or defined visitation
. Removal of child from jurisdiction
. Child's surname
CHILD SUPPORT
. Statewide child support guideline requirements
. Spouses' recognition of statewide guideline limitations where agreement is
for less than guideline amount
. "Deferred sale of home award" as component of child support
. Payment schedule: weekly, monthly, or other; when payments under agreement
shall commence
. Duration of child support (effect of emancipation or adulthood)
. Agreement to support adult children
. Special support considerations: health insurance, medical and dental
payments; special educational needs, etc.
. Right to claim dependency exemption; waiver of exemption by custodial parent
SPOUSAL SUPPORT
. Amount of support
. Payment schedule: weekly, monthly, or other; when payments under agreement
to commence
. Combined spousal and child support option ("family support")
. Payment of debts as payment of support
. Exclusive use of family home in lieu of or toward payment of support
. Satisfaction of state and federal tax requirements for deductibility to
payor
. Modifiability of spousal support
. Duration of support; reservation of jurisdiction
. Waiver of spousal support
. Pendente lite support
FEES AND COSTS
. Attorney fees and costs of litigation
. Experts' fees
TAX PROVISIONS
. Tax returns (separate or joint returns during the separation period?)
. Tax refunds and deficiencies; indemnification provisions
. Allocation of dependency exemption
. Designation of spousal support as nonincludible, nondeductible for federal
tax purposes
GENERAL PROVISIONS
. Effect of reconciliation
. Judicial action: "approval" vs. "merger" (with exception for warranties?)
. Effect of invalidity
. Law applicable
. Mutual releases
. Entry of final judgment
. Modification, revocation or termination of agreement
. Costs of enforcement; waiver of costs of enforcement
. Execution of instruments
. Execution formalities (notary, recordation, etc.)
. Effective date of agreement
. Independent legal representation (or acknowledgement of voluntary and
knowing refusal to obtain independent legal advice)
. Persons bound
. Parties
. Counsel

[VeronicaGia]

It's amazing how much two little words, i.e., "I DO" can really do.

Since we're here, what is your personal opinion of spousal support? In this day and age, I am personally against it, unless the parties have been married many, many years and one party stayed home and has no marketable skills. But for anyone young and capable, I think it should be banned. JMHO, as a woman of the 2000's.

[I AM ALWAYS LIABLE]

Originally posted by VeronicaGia
It's amazing how much two little words, i.e., "I DO" can really do.

Since we're here, what is your personal opinion of spousal support? In this day and age, I am personally against it, unless the parties have been married many, many years and one party stayed home and has no marketable skills. But for anyone young and capable, I think it should be banned. JMHO, as a woman of the 2000's.

My response:

Which is why there is a presumption cut-off between a short term and a long term marriage - - being 10 years. However, depending on the situation, that 10 years is not set in granite. That's merely a "marker" by statute, and it's up to the discretion of the court to award support in a marriage of a shorter term.

No comment on the efficacy of Support.

IAAL

[VeronicaGia]

No comment?

See how I pout at that?

Just kidding; I understand.

[Grace_Adler]

Hey, thanks a bunch for the information.

I printed it out. Never know when it might come in handy.