Sample Divorce Settlement
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A sample divorce settlement has been described below. However, it must be kept in mind that every specific case is different and the law firm drafts this document to include the particulars of each case. The sample provided below lists some of the details or examples of some of the details that are generally included in the divorce settlement.
Further, this document is included in the Judgment of Dissolution and forwarded to the judge. If the judge is satisfied with this document, it is approved, else rejected.
Contents of Sample Divorce Settlement
This divorce settlement witnesses the following.
Various sections of Sample Divorce Settlement
Reservation of Rights
It is stated that each party has the right to defend or prosecute any pending action that may be brought for relief under the Marriage Act of the state.
Whether the parties accede to waive the rights they had against each other regarding child support and / or maintenance, except those that have been mentioned in this settlement?
Child Custody and Visitation
Whether the parties are fit and proper individuals to have legal custody of the child? Which parent will have physical custody of the child? How are the visitation rights defined?
Who should pay whom the child support amount? What is the amount of child support? Till when should this amount be paid?
All personal property, that has not been included in this settlement, shall be retained by the respective parties.
There should be split of the property in divorce by the parties, if it is not a personal property?
Whether both parties have waived their rights to the other party's pension plan, IRA accounts and 401(K) plan?
Each party would be entitled to the life insurances in their respective names.
Each party should be responsible for the respective lawyer fees that have been accrued during the proceedings.
Except as otherwise detailed in this agreement, each party releases and relinquishes all claims and rights against the other party and the party's agents, lawyers and servants.
Waiver of Estate Claim
Each party relinquishes and waives all rights to act as the executor or administrator of the estate of the other party.
Each party shall be responsible for the debts that are in their name only.
Finally, both the divorcing partners put down their signatures.
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