Divorce Settlement Checklist
Divorce Papers > Divorce Settlement > Divorce Settlement Checklist
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
- Child Custody
- Joint Custody
- Removal to another state
- Notice for 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?