Divorce Settlement Stipulation

DIVORCE SETTLEMENT STIPULATION

In the for the County of , Case No. .

This Divorce Settlement Stipulation ("Stipulation") is entered into effective as of , by and between Petitioner: , whose current address is ; and Respondent: , whose current address is .

RECITALS

WHEREAS, the parties were lawfully married on and have since separated on ; and

WHEREAS, the parties are the parents of minor child(ren), namely ; and

WHEREAS, the parties desire to settle all rights, obligations and property between them without further litigation and to reduce their agreement to writing for submission to the Court.

NOW, THEREFORE

For and in consideration of the mutual covenants contained herein and other good and valuable consideration, the parties agree as follows:

1. DEFINITIONS

In this Stipulation, unless the context otherwise requires, the following terms have the meanings ascribed: "Marital Property" means assets and liabilities acquired by the parties during the marriage except those specifically listed as Separate Property; "Separate Property" means property owned prior to marriage or acquired by gift or inheritance and identified as such in this Stipulation.

2. JURISDICTION

The parties agree that the Court identified above has jurisdiction over the subject matter and the parties for purposes of entering a judgment incorporating this Stipulation and that each party submits to that jurisdiction for enforcement and modification proceedings.

3. PARENTING, CUSTODY AND VISITATION

Legal custody: Joint Sole to

Physical custody and parenting time schedule: The parties shall adhere to the parenting time schedule attached hereto and incorporated herein. Specific provisions and the detailed parenting plan are described below:

4. CHILD SUPPORT

The parties agree that child support shall be paid by to in the amount of per commencing on .

The parties further agree as to tax dependency exemptions: For each calendar year, dependency exemption(s) shall be claimed as follows:

5. SPOUSAL SUPPORT / MAINTENANCE

The parties agree that spousal support shall be: None Specified as follows:

6. PROPERTY DIVISION

The parties acknowledge the classification of assets as Marital or Separate and agree to the division described below. Each party covenants to execute any documents necessary to effectuate the transfers.

7. DEBT ALLOCATION

The parties shall be responsible for debts as allocated below. Each party shall indemnify and hold the other harmless from any liability for debts allocated to that party.

8. RETIREMENT AND PENSION ACCOUNTS

Retirement plans, pensions, 401(k)s and IRAs shall be divided as specified below. A Qualified Domestic Relations Order (QDRO) or equivalent shall be obtained if required to effectuate the division.

9. INSURANCE

Health insurance for minor children: The parties agree that health insurance shall be provided as follows:

Life insurance: The parties agree that .

10. TAX MATTERS

The parties shall prepare or cooperate in the preparation of any tax filings necessary to effectuate allocations contained herein. Any tax liability attributable to income or events prior to the date of separation shall be allocated to the party whose income gave rise to the liability unless otherwise specified.

11. ATTORNEYS' FEES

Each party shall be responsible for his or her own attorneys' fees and costs incurred in negotiating and preparing this Stipulation unless a Court orders otherwise; provided, however, that the parties may agree in writing to an allocation of fees and costs as set forth below.

12. ENFORCEMENT

This Stipulation may be filed with the Court and incorporated in whole into any Judgment or Decree of Dissolution. The parties agree that any breach of the material terms may be remedied by specific performance, contempt, or other relief available at law or in equity, and that the prevailing party in any enforcement action shall be entitled to recover reasonable attorneys' fees and costs.

13. MODIFICATION

Except as otherwise provided for child support or custody by statute, this Stipulation may be modified only by a written agreement signed by both parties or by subsequent order of the Court upon a showing of changed circumstances.

14. NOTICES

Any notice required or permitted under this Stipulation shall be in writing and delivered personally, sent by certified mail, return receipt requested, or by any nationally recognized overnight delivery service to the addresses set forth below or to such other address as either party may designate by notice.

15. GOVERNING LAW

This Stipulation shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles.

16. ENTIRE AGREEMENT

This Stipulation constitutes the entire agreement between the parties with respect to the matters contained herein and supersedes all prior negotiations, understandings and agreements, whether oral or written.

17. SEVERABILITY

If any provision of this Stipulation is held invalid or unenforceable by a court of competent jurisdiction, the remainder of this Stipulation shall not be affected thereby and shall remain in full force and effect.

18. AMENDMENTS; WAIVER; COUNTERPARTS

This Stipulation may be amended only by a written instrument signed by both parties. Failure to enforce any provision shall not constitute a waiver of that provision. This Stipulation may be executed in counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

19. REPRESENTATIONS AND WARRANTIES

Each party represents and warrants that he or she has had the opportunity to obtain independent legal advice, that the party has read and understands this Stipulation, and that the party enters into this Stipulation voluntarily and without duress, undue influence or coercion.

The parties further represent that they have fully disclosed all assets, liabilities and income material to the terms of this Stipulation, except as expressly noted in writing in this document.

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