This document review list is offered to provide you background information on the subject and to aid you in the writing process. Pre-divorce agreements can help you save a lot of time, money, and mental distress throughout the divorce process. The paying party need time and emotional freedom in order to acquire the funds required to finance the agreement. This is an element that the receiving party frequently misunderstands. Lawyers may easily feed the fires and consume the family’s assets in a dispute, or worse, a war, over what little there is to fight over.
If one party fails to make complete and accurate disclosure of assets, that portion of the agreement may be readily challenged—and commonly overturned—while the remainder of the agreement remains in place, allowing the parties to move on with their future lives and obligations.
1. Make several copies. Collect a large number of witnesses. Maintain a firm stance on the agreement if the opposing party brings attorneys. The more aggressive the opposing counsel, the more prudent it is to cling to this arrangement
Predivorce Agreement
Pre-Divorce Agreement
_____________, referred to herein as HUSBAND and _______________, referred to as WIFE, agree:
The parties were lawfully married on _____________ at __________, _________. Difficulties have occurred between the parties, and they have agreed to live separate and apart.
The parties nevertheless desire to resolve certain issues and consequently, have entered into this agreement.
The parties have ___ children born of this marriage, named:
__________________________________________________________ born, ______________________________________, respectively.The parties have made a complete disclosure to one another of financial matters and each is satisfied that they have had sufficient disclosure of the parties individual and joint finances.
The parties have each been advised by advisors of their own choice regarding their legal rights and any disclosures made herein.
The husband shall assume the following debts, and hold the wife harmless from the same:
_______________________________________________________________The wife shall assume the following debts, and hold the husband harmless from the same:
_______________________________________________________________Neither party shall incur any further debts which may result in joint liability. In the event that either party incurs a debt on joint credit of the parties, they shall be responsible for the same.
As child support, HUSBAND shall pay support weekly the sum of $ ____ (___________&___/100 dollars).
The HUSBAND shall maintain ______ insurance for the benefit of _____________________.
Personal property of the parties shall be divided as follows:
The HUSBAND shall have the following property:
_______________________________________________________________The WIFE shall have the following property:
_______________________________________________________________If any debts are associated with the items of property divided herein, the party receiving the same shall assume the debt and hold the other party harmless from such debts.
Any property not specifically divided herein shall be subject to distribution at a later time.
The ___________________ shall have temporary possession of the residence owned by the parties located at _____________________. Expenses related to the residence shall be borne by the parties as follows:
Husband: ________________
Wife: ___________________The parties agree that this agreement is intended to be a final disposition of the matters agreed upon herein. This agreement may be introduced into evidence and incorporated in a final decree of dissolution of marriage. In the event that any disputes occur regarding this agreement the prevailing party shall be entitled to reasonable counsel fees regarding such enforcement.
THIS IS A LEGALLY ENFORCEABLE AGREEMENT. READ CAREFULLY AND OBTAIN LEGAL ADVICE BEFORE EXECUTING THIS AGREEMENT.
Dated: __________________________________
_______________________________________________
______________________________________, HUSBAND
_______________________________________________
_________________________________________, WIFE
Witnesses as to HUSBAND:_______________________________________________
_______________________________________________
Witnesses as to WIFE:_______________________________________________
_______________________________________________
Pre-Divorce Agreement
Review ListThis review list is provided to inform you about this document in question and assist you in its preparation. Pre-divorce agreements can save a ton of time, money, and emotional pain. The paying party needs the time and emotional freedom to earn the money to fund the agreement. This is a factor often misunderstood by the receiving party. Lawyers can easily fan the flames and consume the family assets in a fight or worse yet, a war, over what there is.
If one party or the other has not provided clear and complete disclosure of assets, then that part of the agreement can be challenged easily-and overturned frequently-while leaving the rest in place so the parties can get on with their future life and responsibilities.
1. Make multiple copies. Get multiple witnesses. Hold firm to the agreement should lawyers arise on the other side. The more aggressive the lawyer on the other side, the wiser it is to hang on to this agreement.
Frequently Asked Questions
What is a pre-divorce agreement?
A pre-divorce agreement is a contract entered into by a married couple who have agreed to live separate and apart. It allows the parties to resolve certain issues, such as debt allocation, before a formal divorce. The agreement is made after difficulties have occurred in the marriage and the parties desire to settle specific matters.
What issues can a pre-divorce agreement cover?
According to the provided text, a pre-divorce agreement can address the assumption of debts by each party. The husband may agree to assume certain debts and hold the wife harmless, and the wife may agree to assume certain debts and hold the husband harmless. The agreement also references children and financial disclosure, but the specific issues are not limited to these in the text.
Do we need a lawyer to create a pre-divorce agreement?
The article states that the parties have each been advised by advisors of their own choice regarding their legal rights and any disclosures made herein. This suggests that legal advice is contemplated, but it does not explicitly require a lawyer. The agreement itself does not mandate legal representation, but it is advisable to consult a professional.
What does it mean to hold harmless in a pre-divorce agreement?
In the context of this agreement, holding harmless means that one party agrees to assume certain debts and protect the other party from any liability related to those debts. For example, the husband shall assume listed debts and hold the wife harmless from the same. This ensures that the wife is not responsible for those debts.
Is financial disclosure required in a pre-divorce agreement?
Yes, the article indicates that the parties have made a complete disclosure to one another of financial matters. Each party is satisfied that they have had sufficient disclosure of the parties' individual and joint finances. This disclosure is a key component of the agreement.
Can a pre-divorce agreement address child-related issues?
The provided text mentions that the parties have children born of the marriage and lists their names and birthdates. However, it does not specify what child-related issues, if any, are resolved by the agreement. The agreement primarily focuses on debt allocation and financial disclosure in the excerpt.
What happens if my spouse and I cannot agree on a pre-divorce agreement?
The article does not address what happens if the parties cannot agree. It only describes a situation where the parties have agreed to resolve certain issues and have entered into an agreement. If no agreement is reached, the parties would need to seek other legal remedies, which are not covered in the text.
How is a pre-divorce agreement different from a separation agreement?
The article does not explicitly distinguish between a pre-divorce agreement and a separation agreement. It refers to the parties agreeing to live separate and apart and entering into an agreement to resolve certain issues. The term 'pre-divorce agreement' is used in the title, but the content does not compare it to other agreements.
What should be included in a pre-divorce agreement regarding debts?
The agreement should specify which debts the husband will assume and hold the wife harmless from, and which debts the wife will assume and hold the husband harmless from. The article provides blank lines for these lists. This ensures clarity on debt responsibility.
Is a pre-divorce agreement legally binding?
The article does not state whether a pre-divorce agreement is legally binding. It describes the parties agreeing to certain terms, but does not discuss enforceability. Legal validity would depend on applicable laws and the specific circumstances, which are not covered in the text.
