Divorce Settlement Agreement Template

What to Include in a Separation Agreement?

Before you can begin compiling the agreement, you should first prepare a Divorce Settlement Agreement Checklist that will help you not forget any important terms you need to include in your legal agreement. The checklist is different for every person since everybody's marriage situation is different, however, you can consider including the following conditions in your document:

1. Child Information . If you have a child or children, then your divorce agreement must regulate everything that is connected with them: child support, child custody, parenting time, health insurance, healthcare expenses, education expenses, etc.
2. Retirement Accounts . Another necessary detail - how your retirement accounts will be divided after divorce. Generally, a pension earned by one spouse is considered a joint asset which is why it's important to cover how it will be split.
3. Alimony . If negotiated with your spouse and decided that one of you will be receiving alimony (and another one will be paying it), then all of the details in connection with this subject should be included in the agreement. There are no strict rules on how to establish the amount of alimony, therefore, partners usually decide it by themselves.
4. Property and Debts . The Divorce Settlement Agreement should thoroughly describe how the property you and your partner own will be divided between the two of you. Commonly, debts that are incurred after you have entered the marriage are considered the responsibility of both partners and can be split between them.

These are the most popular terms that can be included in the agreement. Nevertheless, nothing can stop you from including more clauses into your divorce agreement or excluding some of them that are not applicable to your situation.

How to Write a Divorce Settlement Agreement?

Writing a legal Separation Agreement can be rather difficult and intimidating. Remember to include the following parts in your document:

1. Title and Date . Every document should start with a title that will define its nature and the date when it was prepared.
2. Information About the Parties . Here, you can identify the involved parties (spouses) by designating their full names and addresses. It is required for correspondence.
3. Introduction Clauses . You can use this part to present the background information about your marriage. Therefore, you can designate the date when you got married, the date when you got separated, that the decision to divorce is final, etc.
4. Divorce Terms . This is the biggest part of your Separation Agreement wherein you will describe how will things be after your divorce. Usually, this part is divided into several sections, where each section consists of clauses dedicated to different subjects. The sections can be about child custody, property division, alimony, debt division, etc.
5. Signatures . To agree with everything stated in the document, both parties must sign the agreement and state the date when they have signed it.

How Much Is a Separation Agreement?

If you have decided not to prepare a legal Separation Agreement by yourself, but to hire a lawyer, or an attorney, then you will have to pay the price that they will set for it. The cost can be different and will depend on a large number of factors, such as the specialist's experience, the amount of content you want the agreement to cover, the state or country where you are divorcing, and so on. Therefore, if the involved individuals do not have any questions for each other and would like to spend less money on legal procedures, they can prepare the Separation Agreement by themselves.

However, this is not the only cost that future divorcees will have to cover. Generally, there is also a filing fee for legal separation. The filing fee fully depends on your location and it might be waived if the individual who is applying for divorce has also applied for a fee waiver.

Additionally, the cost of your divorce can raise depending on different aspects, such as child custody, child support, alimony, property disputes. It is hard to predict how much in total the divorce will cost you, as its cost on average starts from $4,000 and goes up as high as $15,000 and more.

Haven't found the template you're looking for? Take a look at the related templates and forms below:

• Divorce Affidavit Form;
• Prenuptial Agreement Template;
• Letter of Intent to Marry.