Divorce Settlement Checklist

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When one decides to have a divorce settlement or is in the process of one, the divorcing partner must carry a paper comprising of the items that must be addressed in the settlement. Such an exhaustive divorce settlement checklist is detailed below.

Points to note in a Divorce Settlement Checklist

  • Spousal Maintenance or Alimony
    • Amount of money
    • Date of starting payment
    • The payable dates
    • Events, on occurrence of which, the payments may be stopped

  • Life Insurance (coverage and ownership)
    • Cash value
    • Length of obligation
    • Proof of payment

  • Health Care
    • COBRA coverage for spouse
    • Length of obligation
    • Co-payments, deductible and non covered items
    • Optical, Psychological, Dental and Orthodontic payments
    • Insurance (proof of premium payment and coverage)

  • Income Tax
    • Refund of tax
    • If the couple was married for an entire tax year, then filing joint return for year prior to judgment

  • Child Support
    • Income withholding
    • Dependent exemptions
    • Termination of support
    • Dates payable
    • Date on which payments should begin
    • Amount

  • Child Custody
    • Joint Custody
    • Removal to another state
    • Notice for visitation
    • Visitation

  • College Education of Children
    • Ratio of payment by parents
    • School that must be considered as standard / benchmark for costs
    • Obligation if child resides with parent while attending college
    • Transportation to and from school
    • Number of years in college

  • Automobiles and any other motor vehicles
  • Credit and / or debit cards
  • Retirement, pension, profit sharing
  • Lawsuits in which the spouses have an interest
  • Professional practice or Business interests
  • Stock related aspects
  • Money deposits like credit union, savings and loan, bank
  • Household furnishings

Other items in a Divorce Settlement Checklist

  • In the future, if it is discovered that one spouse has concealed assets in the divorce settlement, does the court have the right to restart the case?
  • Do both the partners accede to execute all documentation essential for transfer of property interests?
  • If any problems prop up in the future, do the partners accede to hire a parenting time consultant or undergo mediation?
  • Does any partner desire to alter his / her name?
  • Regarding the fees and costs of the lawyers, should each party pay these respective amounts or is one party responsible for the entire amount?
  • Post separation, if any debts are accrued, then how should they be divided?
  • Division of marital debt
  • If the parties have received non marital interest, do the parties retain their individual interest?
  • How the marital property can be divided in a fair and equitable manner?
  • Should each parent secure life insurance and name the other parent as a beneficiary of the insurance aiming at the benefit of the children?
  • Which parent is expected to transport the children for parenting time exchanges?
  • How to define communication with the children on phone?
  • During the yearly breaks in school, with which parent should the children spend their time?
  • On any given day, which is the right place for the children?

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