Marital Settlement Agreement Regarding Custody and Support

Marital Settlement Agreement Dealing with Domiciliary Custody and Moving Away

Agreement made on the between of , referred to herein as Husband, and of , referred to herein as Wife. Husband and Wife are sometimes referred to herein as the Parties.

A. The Parties were married on .

B. Irreconcilable differences have arisen between Husband and Wife. The Parties have agreed that is the date of separation.

C. Husband and Wife filed a Joint Petition for Dissolution in the of the County of ; Civil Action No. , on .

D. This matter was bifurcated and the marital status was terminated on . The Judgment terminating the marriage was entered on , with a reservation of jurisdiction by the Court as to all other issues.

E. Wife's Social Security number is . Husband's Social Security number is .

F. The Parties intend that this Agreement will be incorporated into and become a part of the Judgment of Dissolution.

G. Husband was born on . Wife was born on . Both of the Parties are in good health.

H. Husband is employed as . His earnings from work during were $. This is higher than his previous year’s earnings, which were $ in , and $ in .

I. Wife is employed as . Her earnings from work during were $. This is higher than her previous year’s earnings, which were $ in , and $ in .

J. There are minor children of the marriage, , born , and , born .

K. Wife has been represented throughout these proceedings by . Husband has been represented throughout these proceedings by .

1. Purpose of Agreement

The purposes of this Agreement are:

A. Final Settlement. To make a final and complete settlement of all property rights and obligations between the Parties;

B. Support. To resolve, finally, the support rights and obligations between the Parties; and

C. Claims. To relinquish any and all past, present, or future claims that each may have against the property or estate of the other, or of his or her executors, administrators, representatives, successors, and assigns, except as otherwise provided herein.

2. Effective Date. This Agreement will be effective as of the date of its execution by the last of the Parties to sign as indicated on the signature page of that party.

3. Child Support

A. Amount and Duration of Child Support. Husband will pay to Wife as and for child support for the minor children named above the sum of $ per month commencing , and continuing until each child reaches age 18 unless still a full-time high school student living with Husband or Wife in which case support will terminate upon attaining the age of 19 or graduation from high school, whichever is earlier, or upon death, marriage, or other emancipation, whichever first occurs.

B. Schedule and Method of Payment. One-half of the child support will be paid on the first day of each month and one-half on the 15th day of each month.

C. Husband will mail or deliver the child support to Wife at the address set forth above and Wife will keep Husband informed of her address.

D. Termination of Support for One Child. At such time as child support terminates for , child support will be reduced to $ per month.

E. Support Factors. The amount of child support is based upon the following factors:

1. $ for housing and utilities allowance;

2. $ for vacation and travel allowance

3. $ for clothing and gift allowance

4. $ for entertainment allowance

5. $

6. The breakdown of child support per child is $ per month for , and $ per month for .

F. Health Insurance. Husband will maintain health insurance coverage available through his employment for the minor children for the duration of his obligation to pay child support or for so long as each child qualifies for coverage as his dependent. Husband will provide Wife with all forms necessary for submission of claims to the insurer.

G. Health Care Expenses. Husband will pay % and Wife will pay % of any insurance deductible or uninsured portion of expenses for health care.

H. Health care expenses include, but are not limited to, the following:

(specify, such as: medical treatment, optometric treatment, dental treatment, orthodontic treatment, psychotherapeutic treatment, educational therapy, occupational therapy, and audio/speech therapy).

I. Extracurricular Activities. Husband will contribute % of the cost of extracurricular activities of the children and Wife will pay %. Neither party will unreasonably withhold his or her consent to an extracurricular activity reasonably within the scope of a child's interests, abilities, or requests.

1. Extracurricular activities include all activities that are not a part of the school curriculum.

2. The cost of extracurricular activities includes expenses reasonably associated with the activities, including transportation, clothing, dues, and equipment.

J. Childcare Expenses. Husband will pay to Wife % of all childcare expenses incurred for purposes of work. The payments will be made on a monthly basis at the same time as the child support is paid.

K. Educational Expenses. Husband will pay % and Wife will pay % of the school expenses for the children. "School expenses" include, but are not limited to, the following: tuition, field trip fees, books, supplies, yearbooks, uniforms, tutoring, appropriate computer equipment, including a printer and educational software, and lunches at school.

L. Post-High School Expenses. The Parties agree that Husband will pay % of the cost of 4 years of post-high school education so long as the child is enrolled on a full-time basis up to a total cost that is equivalent to the cost of four years at an in-state public college or university. "Full-time" means the minimum number of units required by the institution for full-time enrollment.

1. These expenses include room and board, tuition, books and supplies, round-trip travel between school and home twice each year, and an allowance of $.

2. The selection of the institution will be a collaborative effort of the Child, Wife, and Husband.

M. Dependency Claim. Husband will be entitled to claim the children as dependents on his income tax returns.

N. The Parties acknowledge and agree to the following:

1. They are fully informed of their rights concerning child support.

2. The order is being agreed to without coercion or duress.

3. The agreement is in the best interests of the children involved.

4. The needs of the children will be adequately met by the stipulated amount.

O. Life Insurance. Husband will maintain the children as beneficiaries on a policy of life insurance with a minimum death benefit of $. Husband is restrained and enjoined from changing the beneficiary designation on the life insurance for the duration of his obligation to pay child support to the younger child.

1. Husband will produce the insurance policy for the other party within 30 days of the effective date of this Agreement.

2. As of the date that Husband's obligation to pay child support terminates for each child, the death benefit may be reduced by $ per child for whom child support is no longer payable.

3. Exchange of Information. Each year that there is an obligation to pay child support, the Parties will exchange their respective federal and state income tax returns, together with all W-2 forms, 1099 forms, 1098 forms, and K-1 returns within two weeks of the filing of the returns with the tax authorities.

4. Joint Legal Custody and Timeshare

A. The Parties will share joint legal custody of the minor children. All decisions pertaining to the health, education, and welfare of the children will be jointly made.

B. Wife will have physical custody of the minor children.

C. Timeshare. The timeshare of the Parties with the children will be as follows:

1. Husband will be with the children

2. Holiday timeshare will be as follows:

3. Vacation timeshare will be as follows:

i. The schedule for vacation timeshare will be as follows:

ii. Neither party may leave the state of or continental United States with the children without prior written consent of the other party or court order.

iii. The timeshare for each child's birthday will be as follows:

D. Notice Regarding Modification. If either party needs to modify the timeshare, he or she will give the other party reasonable notice of at least three days.

E. Travel or Other Absence. If Wife is going to be away from the family residence without the children, she is to give Husband the right to have the children during the absence.

F. Move Away. Neither party may move away with the minor children to a distance in excess of miles without the prior written consent of the other parent or court order.

1. If Wife intends to move away in excess of miles and wishes to take the children along, she must give Husband not less than days' notice.

2. If there is a dispute regarding one party's desire to move away with the children, in any adversary hearing to adjudicate the requested move away, the burden of proof will be upon the parent wishing to move away with the children.

G. Mediation. In the event there is a dispute regarding the children, the Parties will cooperate in meeting with a mutually agreed upon co-parenting mediator prior to filing any application before the Court. The Parties will equally share the cost of the mediation.

H. Substance Use/Abuse. Husband and Wife will refrain from consuming any nonprescription drugs or alcohol 24 hours before commencement of or at any time during their time with the minor children.

I. Access to Records. Both of the Parties will cooperate to ensure that each of them will have access to all of the minor children's medical, dental, and school records, in conformity with law. Wife will instruct to mail a duplicate copy of all correspondence from the school to Husband, who will also contact the school and request a duplicate copy of all correspondence.

5. Spousal Support

A. Amount and Duration of Spousal Support. Husband will pay to Wife the sum of $ per month as spousal support, commencing and continuing until either party's death, or Wife's remarriage, whichever first occurs.

1. The amount of spousal support is based upon the following factors:

i) The timeshare for the children is

ii) Husband is a salaried employee of earning $ per .

2. A calculation showing the factors used to determine support is attached to this Agreement as Exhibit A.

B. Tax Treatment. All support payments under the terms of this Agreement are deductible to Husband and taxable as income to Wife on their respective income tax returns.

C. Method of Payment. All support payments will be made to Wife by delivery or mailing to . Wife will advise Husband if there is a change of address.

D. Termination of Jurisdiction. The Court's jurisdiction to award spousal support will terminate upon Wife's Death, Husband's death, Wife's remarriage, or , whichever first occurs (the Termination Date).

E. Amount and Duration of Support Non-modifiable. The amount and duration of spousal support payable under this Agreement is non-modifiable.

F. Attorney Fees as Additional Spousal Support. Husband will pay as additional deductible spousal support the sum of $ on behalf of Wife to the law office of , in discharge of Wife’s attorney fees and costs.

G. Life Insurance. Husband will maintain a policy of life insurance with a benefit of $ assigned to Wife as beneficiary until .

H. Health Insurance. Wife is currently covered under Husband's medical insurance maintained through his employment. Husband will continue to provide medical insurance for Wife until the effective date of the Parties' marriage dissolution.

6. Assets and Obligations

A. Assets and Obligations Listed. The Parties declare that the property listed on Exhibits B and C, attached to and made a part of this Agreement, constitutes all of the marital assets and obligations of the Parties.

B. No Other Obligations. At the time of the signing of this Agreement, the only known obligations are those listed on Exhibits B and C.

C. Assets and Obligations to Husband. The Parties agree that Husband will be awarded as his share of the assets and obligations those items set forth on Exhibit B, attached to and incorporated in this Agreement by this reference.

D. Assets and Obligations to Wife. The Parties agree that Wife will be awarded as her share of the marital assets and obligations those items set forth on Exhibit C, attached to and incorporated in this Agreement by this reference.

E. Unknown Obligations. Any latent debt, claim, or obligation not provided for in this Agreement and unknown by the Parties at the time of the preparation of this Agreement, will be deemed a joint expense so long as the debt, claim, or obligation arose from the conduct of both Parties occurring during the marriage, but prior to the effective date of this Agreement.

F. Credit Card Accounts. Within 30 days of the signing of this Agreement, each party will remove the other from any credit cards or other accounts upon which the other's name appears, for any credit accounts that have remained under his or her control during the period of separation.

G. Sale of Residence. The residence located at , will be listed for sale on or before .

The Parties will mutually agree on a listing agent whose listing contract will be in increments of months.

The property will be listed for sale at a price according to the opinion and advice of the individual selected by the Parties to be the listing agent.

The Parties will equally share the cost of preparing the property for sale by performance of that maintenance recommended by the listing agent.

1. Wife will occupy the residence pending its sale.

2. The Parties will act reasonably and promptly in responding to offers on the property and neither party will unreasonably withhold consent to terms so as to jeopardize a sale.

3. The Court retains jurisdiction to oversee and supervise all transactions associated with implementation of all of the provisions of this Section G and its subparts.

4. The Court may substitute its judgment in the place of the judgment of one of the Parties with respect to whether particular terms are reasonable.

5. The Parties are advised that the Court may order a third party to sign any documents reasonably necessary to implement the terms of this Section G and its subparts.

6. Proceeds from the sale of said Residence shall be divided between the Parties as follows: each Party will have confirmed to him or her one-half the property and each shall receive one-half the cost basis, one-half of any capital gains deferred into the purchase of this Residence, and one-half the capital gains attributable to this property.

7. Each party shall report on his or her separate income tax returns for the sale of one-half the residence.

7. Separate Property

A. Exhibits. Exhibits D and E contain the separate property being confirmed to each of the Parties.

B. Wife's Separate Property. Wife will have confirmed to her as her sole and separate property and obligations those assets and obligations set forth at Exhibit D, attached to and incorporated in this Agreement.

C. Husband's Separate Property. Husband will have confirmed to him as his sole and separate property and obligations those assets and obligations set forth at Exhibit E attached to and incorporated in this Agreement.

8. Warranties, Covenants, and Releases

A. Disclosure of Assets. The Parties warrant to each other that neither party owns any property of any kind, other than the property listed in this Agreement, including the Exhibits.

B. After-Discovered Property. The Parties agree that any property or property interests discovered after the effective date of this Agreement will be divided equally between the Parties.

C. Valuation of Assets. Each party warrants to the other that the warrantor has not given any false or misleading information and has not withheld any information concerning the existence of or value of any marital assets and/or separate property.

D. Unauthorized Gifts. Each party warrants to the other that the warrantor has not made, without the warrantee's knowledge and consent, any gift or disposition of property with a value in excess of $.

E. Indemnity Against Assumed and Additional Liabilities. Each party warrants to the other that neither has incurred any debt or obligation for which the other can be held liable.

F. Survival of Warranties. The Parties intend that the warranties, covenants, and releases contained in this Article 8 will survive the merger of this Agreement into a Judgment of Dissolution of Marriage.

9. Waiver of Inheritance Rights

A. Mutual Waiver of Inheritance Rights. Each party waives and renounces any and all rights to inherit the estate of the other at the other's death, or to receive any property of the other under a will executed before the effective date of this Agreement.

10. Taxes

A. Joint Tax Return. The joint tax return for will be prepared by .

Each of the Parties will cooperate to provide with all information necessary for preparation of the tax returns in a timely fashion.

1. The Parties will split the tax liability on this joint return as follows: Husband will pay %, and Wife will pay %.

2. The Parties understand that each is jointly and severally liable for the entire tax liability to any taxing authority if a joint return is filed.

3. The Parties understand that, by filing a joint return, each is legally precluded from amending the return for to a separate return at any time after the joint return is filed.

4. The Parties understand that spousal support payments made by one party to the other are not deductible on a joint return filed by the Parties.

B. Audit of Joint Tax Returns. The Parties have filed joint federal and state income tax returns ending with the tax year, . The Parties intend to file joint tax returns for .

1. If either party receives any tax deficiency notice for any joint tax return, he or she will immediately forward a copy of the notice to the other.

2. Subject to Section 3 below, the Court reserves jurisdiction to allocate between the Parties any taxes, penalties, interest, and professional fees associated with any joint return.

3. Neither party waives his or her right to seek status as an Innocent Spouse under Internal Revenue Code section 6015.

C. Separate Tax Returns. Each of the Parties will file separate tax returns for reporting only the income earned by each during that year and all income, gains, interest, deductions, expenses, and losses associated with any asset confirmed to him or her under the terms of this Agreement.

D. Conformity of Tax Returns. In the event deductible/taxable spousal support was paid during a given calendar year, the Parties will do the following: On or before February 15 of the following year, the Parties will provide each other with the amount each intends to put on his or her income tax return for deductible support payments or taxable support received.

11. Bankruptcy

A. Husband's Acknowledgment. Husband acknowledges that the debts and liabilities assigned to him pursuant to this Agreement are assumed by him as part of an overall bargain with Wife.

B. Wife's Acknowledgment. Wife acknowledges that the debts and liabilities assigned to her pursuant to this Agreement are assumed by her as part of an overall bargain with Husband.

12. General Provisions

A. Entire Agreement; Settlement and Release. The Parties intend this Agreement to be a final and complete settlement of all of their rights and obligations arising out of the marriage and acknowledge that it contains the entire agreement on the matters it covers and it supersedes any previous Agreement between the Parties.

B. Execution of Other Documents. Each party agrees that he or she will, upon request, execute, acknowledge, and deliver to the other party any and all documents necessary to effectuate the terms of this Agreement.

C. Mutual Release from Interspousal Obligations. Except as otherwise provided in this Agreement, each party hereby releases the other from all interspousal obligations, whether incurred before or after the effective date, and all claims to the property of the other.

D. Amendment. The provisions of this Agreement may only be waived, altered, amended, modified, revoked, or terminated in a subsequent written agreement specifically referring to this Agreement and signed by both the Parties.

E. Binding Effect. This Agreement will inure to the benefit of and be binding on the Parties and their heirs, personal representatives, assigns, and other successors in interest of each party.

F. Effect of Reconciliation. Any reconciliation between the Parties will not cancel, terminate, or modify the force or effect of any provision of this Agreement dealing with the present assets or obligations of either or both Parties.

G. Severability. This is an integrated agreement entered into by the Parties because of the overall settlement.

H. Governing Law. This Agreement will be construed in accordance with, and governed by the laws of the State of , except that this Agreement will not be construed in favor of or against either party, but in a manner that is fair to both Parties.

I. Continuing Jurisdiction. The Parties agree that the Court will have continuing jurisdiction to enforce the executory provisions of this Agreement and to divide any subsequently discovered or undisclosed property and to resolve any claims relating to the warranties, covenants, and releases contained in this Agreement.

J. Incorporation into Judgment. This Agreement will be submitted to the Court in the Parties' dissolution action and be incorporated into the judgment of dissolution.

K. Agreement Voluntary and Clearly Understood. In affixing their signatures to this Agreement, each of the Parties is acknowledging that he or she has read the Agreement and discussed it with his or her attorneys, that each understands all of its terms, and agrees to be bound by its provisions.

WITNESS our signatures as of the day and date first above stated.

Attorney’s Certification for Husband

The undersigned, , certifies that he is an attorney at law duly licensed to practice and admitted to practice in the State of ; that he has been employed by , a party to the foregoing Agreement, and has explained to him the meaning and legal effect of it, and that has acknowledged his full and complete understanding of the Agreement and its legal consequences, and has freely and voluntarily executed the Agreement.

WITNESS my signature as of the day and date first above stated.

__________________________

Attorney’s Certification for Wife

The undersigned, , certifies that he is an attorney at law duly licensed to practice and admitted to practice in the ; that he has been employed by , a party to the foregoing Agreement, and has explained to her the meaning and legal effect of it, and that has acknowledged her full and complete understanding of the Agreement and its legal consequences, and has freely and voluntarily executed the Agreement.

WITNESS my signature as of the day and date first above stated.

__________________________