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Electronically signed divorce settlement agreement template

what is a divorce settlement agreement hello I'm ed heck and I'm a Georgia divorce and child custody attorney I'm also a divorced single father of two children I personally know what it's like to deal with these kinds of family law issues and I'm passionate about helping other get through them as well a divorce settlement agreement is a comprehensive document that is prepared when a married couple is going through the divorce process in the hopes that all terms of divorce can be agreed to by the parties and the court doesn't need to address the issue in a trial by judge or jury that's why it's called a divorce settlement agreement the settlement agreement is a very comprehensive document that sometimes also includes a parenting plan that deals with children's issues such as custody and parenting time or it may only deal with the parties money and property and incorporate by reference a separate document called a parenting plan that deals with all of the child custody and parenting time issues the settlement agreement may be referred to as a property and financial settlement agreement a marital settlement agreement a collaborative settlement agreement or any other variety of names but a settlement agreement by any other name is still a settlement agreement the document puts in writing all of the terms that the couple has agreed to for issues such as what will happen to the marital home and when and under what terms what will happen to the couple's tangible property such as vehicles boats furniture electronics and more it also spells out the terms a couple agrees upon concerning what property is separately owned by each of the parties and what property is jointly owned by them after the marriage another big issue covered by the settlement agreement is finances things like what will happen to all the bank accounts of the couple which will go with the husband which will go with the wife which will be closed such as joint accounts perhaps the settlement agreement will also contain the terms for dividing retirement accounts as well I raise 401ks pensions as well as non retirement financial assets such as stocks bonds collectibles maybe even precious metals such as physical gold that the couple may have in a safe deposit box another class of items the settlement agreement we'll deal with is dead who will be responsible for payment of which debts which debts are separate debts of one of the parties those are kind of easy to deal with the more difficult debts are the debts where both parties are liable on the debt typically those debts must be paid off or the creditor who is owed the money could come after either or both parties regardless of whatever payment terms the parties may have agreed upon on their own for instance if a bank makes a loan to a married couple with both parties obligated on the loan and at the time of the divorce the couple still owes let's say $10,000 and they agree that they'll each pay back half of the loan within 90 days but one doesn't the bank will eventually come after both former spouses for the other $5,000 since they both made the promise to the bank that the loan would be paid back the bank doesn't care about the agreement between the parties to each pay back half and the fact that one didn't live up to their half of the agreement so it's important to ensure that there is language included in the settlement agreement to protect each spouse from the possible default of the other spouse on debt repayment settlement agreements can also contain the terms for payment of spousal support or alimony or for the waiver of spousal support or alimony the parties can also waive their right to modify an award of spousal support or alimony in the future but such waiver language must be very specific and very clear in order to be effective sometimes some or all of the terms of a settlement agreement are reached by the parties prior to them obtaining legal representation sometimes terms are reached in negotiations between the attorneys and other times the parties and their attorneys are able to reach agreement with the assistance of a mediator I deal with these kinds of family law issues all the time in my practice so call me at the number you see on your screen and we'll talk about your questions you can also visit HEC family law calm and fill out the contact us form thanks for watching I'm always happy to speak with you and please click like or share if you're seeing this video on YouTube or Facebook so that others will see this important information too you