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3 Things To Consider When Drafting A Divorce Agreement

Thinking

For couples who have decided to end their marriage, a divorce agreement could end up dictating a large part of their post-divorce lives. For this reason, it is in a couple’s best interests to have a thorough understanding of the components of their own divorce agreement. To learn more about what to seek in your divorce agreement, reach out to a dedicated Fort Lauderdale divorce lawyer today.

Identify and Distribute Assets

Divorce agreements serve a number of important purposes, but one of the most critical is property division. A valid divorce agreement should carefully identify, list, categorize, and eventually distribute a couple’s marital assets, including:

  • Vehicles;
  • Real estate;
  • Retirement benefits;
  • Personal possessions, including collectibles;
  • Business interests; and
  • Investments.

Financial liabilities, including loans, mortgages, and credit cards will also need to be divided upon divorce. Fortunately, both marital assets and debts are divided equitably in Florida based on a few factors, including the length of a couple’s marriage, each spouse’s contribution to the marriage, and both parties’ economic circumstances. To learn more about what could qualify as an equitable division of your own marital property, call our office today.

Create a Parenting Plan

Another important part of a divorce agreement for couples who share children will be the parenting plan. A court will only grant a couple’s divorce if they have a plan in place that accounts for how parenting time and responsibility for parental decision making will be divided between the parties. Having a clear plan in place is critical to ensuring that there is as little confusion as possible after a divorce regarding when a child will be with each parent and can also give children a much needed sense of stability in a difficult time.

Agree on Alimony

Finally, a divorce agreement will need to include details about spousal maintenance, including whether one of the spouses will be entitled to payments, what form those payments will take, as well as the amount and duration of payments. If a couple is unable to reach an agreement on this issue, then a court will step in and make a decision on the parties’ behalf based on the standard of living during the marriage, the length of the union, the ages of the spouses, and both parties’ financial resources. Based on these factors, a court can award one of four different types of alimony: bridge-the-gap alimony, rehabilitative alimony, durational alimony, and permanent alimony. Permanent alimony is rarely awarded, except in cases of marriages lasting more than 20 years, where one spouse has far fewer financial resources than the other.

Do You Need Help with Your Florida Divorce?

If you want to pursue a divorce in Florida, dedicated Fort Lauderdale divorce lawyer Sandra Bonfiglio, P.A. is here to help. We can assist you with negotiating and drafting an initial divorce agreement that is in your family’s best interests as soon as you are ready. Call our office at 954-945-7591 to set up a free consultation with a member of our legal team.

Source:

floridabar.org/public/consumer/pamphlet010/#Untitled%20Section_5

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