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?

Divorce Papers