Marital Dissolution Agreement

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Most likely the next document drawn up in your case will be a Marital Dissolution Agreement. Divorces usually settle in the beginning when both parties feel guilty or in the end when both are exhausted. I will draw up the agreement, but I need to know who gets what and who pays what. You can include many things in your agreement, some of which are listed below:

Court cost and attorney’s fees—Who pays?

Property—Who gets the house? Who gets the note? How does the equity get divided if it is sold?

Personal property—Who gets which car, what appliances, and what happens to the sofa in the den?

Retirement—What happens to any retirement benefits that have accrued?

Debts—Who pays what? Should the debts be paid off by refinancing?

Alimony—How much? How long?

Custody—Who gets which child? Should any aspects of custody be shared? The noncustodial parent may be the one who is a doctor and may be the one who should make medical decisions. Will joint custody work?

Child support—How much? How long? Who carries health or life insurance on children? Who gets to claim the children as income tax deductions? Private school or college tuition?

Visitation—Do you want a specific schedule or can you and your spouse work together on it?

Life insurance— Who is insured? Who is the beneficiary? Term or cash value? How much?

Health insurance— Who is covered? In many cases an employee’s spouse can be covered up to thirty-six (36) months after the divorce by the employed spouse’s insurance for a small additional premium.

Other—Security for obligations in the agreement, for wills, for death, and for taxes. (You cannot avoid death or taxes, so you may need to provide for them.)

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