Divorce Agreement Draft

DIVORCE AGREEMENT DRAFT

This Divorce Agreement Draft (the Agreement) is entered into on between Party A: , whose primary address is ; and Party B: , whose primary address is .

RECITALS

WHEREAS, the parties were lawfully married on ; and

WHEREAS, irreconcilable differences have arisen between the parties and they have agreed to resolve their marital, custodial, support and property rights by mutual agreement as set forth herein; and

WHEREAS, the parties desire to set forth herein a full and final disposition of all rights and obligations arising out of the marital relationship, including but not limited to custody, support, division of assets and debts, and tax allocation.

NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings set forth below:

1.1 "Separation Date" means the date the parties ceased cohabitation, which is agreed to be .

1.2 "Marital Property" means all property acquired by either or both parties during the marriage except property characterized as separate by law or by this Agreement. "Separate Property" means property owned prior to marriage, gifts, inheritances and property excluded by written agreement.

2. CHILDREN; CUSTODY; PARENTING TIME

2.1 The parties represent that the following minor children were born of or adopted during the marriage:

2.2 Legal custody (decision-making responsibility) shall be:

2.3 Physical custody and parenting time shall be allocated as follows and shall be in the best interests of the children. The parties agree to the parenting plan described below:

3. CHILD SUPPORT

3.1 The parties acknowledge that child support shall be determined in accordance with applicable law. The provisional support arrangement agreed between the parties is:

Payor: ; Amount: $ per , commencing on .

3.2 Health insurance and uninsured medical expenses for the children shall be allocated as follows:

4. DIVISION OF PROPERTY

4.1 The parties agree to divide marital property and debts as a complete and final settlement in accordance with the terms set forth below. Each party shall execute any documents necessary to effectuate the transfers described.

4.2 Real property:

4.3 Personal property, bank accounts, investments and vehicles:

5. DEBTS AND LIABILITIES

5.1 The parties acknowledge that the allocation of all marital debts shall be as follows. Each party shall indemnify, defend and hold the other harmless from any liability for debts allocated to the other party, except as otherwise provided by law.

6. SPOUSAL SUPPORT

6.1 The parties agree that spousal support shall be: Waived by mutual agreement Provided as follows

If provided, payor: ; Amount: $ per ; Duration: .

7. TAX MATTERS

7.1 The parties shall file all federal and state income tax returns in a manner consistent with this Agreement. Any allocation of dependency exemptions, tax credits or refunds shall be as follows:

8. RETIREMENT AND BENEFITS

8.1 Any division of retirement accounts, pensions, 401(k), IRAs or other benefits shall be accomplished by qualified domestic relations orders or other documents as necessary. Specific allocation:

9. ATTORNEYS' FEES

Unless otherwise ordered by a court, each party shall bear their own attorneys' fees and costs incurred in connection with the negotiation and execution of this Agreement, except:

10. MUTUAL RELEASE; NO FURTHER CLAIMS

10.1 Except as otherwise provided in this Agreement, each party hereby releases, remises and forever discharges the other from any and all claims, demands, actions, causes of action, suits, debts, accounts, covenants, contracts and liabilities, whether legal or equitable, that arose before the date of this Agreement and relate to the marriage.

11. REPRESENTATIONS AND WARRANTIES

Each party represents and warrants to the other that: (a) they have provided full and accurate disclosure of all material assets, liabilities and income known to them; (b) they enter into this Agreement voluntarily, with full knowledge of its terms and legal effect; and (c) execution of this Agreement does not violate any other written agreement or court order to which they are a party.

12. NOTICES

All notices required or permitted under this Agreement shall be in writing and delivered to the parties at their addresses set forth below (or such other address as a party shall designate in writing).

13. AMENDMENT; WAIVER; COUNTERPARTS

This Agreement may be amended only by a writing signed by both parties. No failure or delay by either party in exercising any right shall operate as a waiver. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together constitute one instrument.

14. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

This Agreement shall be governed by and construed in accordance with the laws of the State specified by the parties:

The parties acknowledge that this Agreement contains the entire understanding of the parties concerning the subjects addressed herein and supersedes all prior agreements, whether written or oral. If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

15. CERTIFICATIONS

Each party certifies under penalty of perjury that: (a) they have read and understand the terms of this Agreement; (b) they have had the opportunity to seek independent legal advice; and (c) the information disclosed in connection with this Agreement is true and complete to the best of their knowledge.

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