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]

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.