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A property settlement agreement, also known as a marital separation agreement, is a contract that lists and divides the marital property and financial obligations of a couple. A property settlement includes the terms of a divorce, property division, debt division, child support, child custody and alimony.
Property settlement agreements are not required, but they do have advantages. Without a property settlement, there may be ambiguities as to how the couple's property will be divided. A property settlement is also a way for a couple to avoid going to court because judges typically honor the agreement if it covers all aspects of the divorce. Property settlements can be complicated, however, especially when it comes to couples who split after many years.
An experienced family lawyer a can help protect your interests when negotiating a property settlement. Family lawyers know that there is a high priority placed on paternal responsibility and child support. A lawyer will work with you to achieve the best outcome by helping you reach a financial agreement through negotiation, mediation or arbitration.
Contact Attorney Search Network today for a family lawyer referral in your area. A family lawyer can help you draft a property settlement agreement and has the necessary tools to ensure your divorce goes smoothly.
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