Marital Settlement Agreement
This Marital Settlement Agreement ("Agreement") is made and entered into as of [date], by and between [Name of Husband], hereinafter referred to as "Husband," and [Name of Wife], hereinafter referred to as "Wife," collectively referred to as the "Parties."
I. Division of Assets and Liabilities
1.1 Assets
(a) Real Property: The Parties agree that the marital home located at [address] shall be awarded to [Husband/Wife], who shall assume full ownership and responsibility for any associated mortgages, liens, or encumbrances.
(b) Personal Property: All household furnishings, appliances, and personal belongings shall be divided as mutually agreed upon by the Parties, with each Party retaining those items currently in their possession.
(c) Financial Assets: Savings accounts, investment accounts, retirement accounts, and any other financial assets held jointly by the Parties shall be divided equally, with each Party entitled to 50% of the total value.
1.2 Liabilities
The Parties shall be responsible for the payment of their respective debts incurred before or during the marriage. Any joint debts, including but not limited to mortgages, loans, and credit card balances, shall be divided equitably between the Parties.
II. Child Custody and Parenting Plan
2.1 Legal Custody
The Parties shall share joint legal custody of their minor children and shall consult with each other on all major decisions affecting the welfare and upbringing of the children, including but not limited to education, healthcare, and religious upbringing.
2.2 Physical Custody and Visitation
The Parties shall agree to a schedule for physical custody and visitation of the children, ensuring frequent and meaningful contact with both parents. The specific schedule shall be as follows:
(a) Visitation Schedule: Visitation shall occur every other weekend from Friday afternoon to Sunday evening, as well as one evening per week for dinner, to be mutually agreed upon by both Parties.
(b) Communication During Visitation: Non-custodial parents shall have reasonable access to communicate with the children via phone, video calls, or other electronic means during visitation periods.
(c) Flexibility: Parties agree to communicate openly and accommodate each other's reasonable requests for modifications to the visitation schedule, keeping the best interests of the children in mind.
2.3 Child Support
[Husband/Wife] shall pay child support to the custodial parent, [Husband/Wife], in the amount of [amount] per month, commencing on the 1st day of each month, and continuing on the same day of each subsequent month thereafter, by the applicable child support guidelines.
III. Insurance and Benefits
[Husband/Wife] shall maintain health insurance coverage for the benefit of the minor children until they reach the age of majority or become emancipated.
IV. Tax Considerations
The Parties shall file their taxes separately for the tax year in which this Agreement is executed and for all subsequent tax years.
V. Miscellaneous Provisions
5.1 Confidentiality
The Parties agree to keep the terms of this Agreement confidential and shall not disclose them to any third party, except as required by law.
5.2 Non-disparagement
The Parties agree not to make derogatory or disparaging remarks about each other in public or to any third party.
5.3 Dispute Resolution
Any disputes arising from or relating to this Agreement shall be resolved through mediation, with each Party responsible for their costs.
VI. Execution
IN WITNESS WHEREOF, the Parties have executed this Marital Settlement Agreement as of the date first written above.
[Name of Husband]
[Date Signed]
[Name of Wife]
[Date Signed]
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