You know you need a settlement agreement to finalize your divorce
But it’s pretty hard to visualize what a marital settlement agreement looks like without seeing one.
Below we have a text version of a marital property agreement actually used by our firm to resolve a divorce case with assets, debts, children, and support.
Even better, we have included a link below to download a pdf version of this settlement agreement that has been annotated by one of our divorce lawyers so you know exactly what everything means. We give a copy of the annotated version to our clients at the beginning of the divorce settlement process so they can start to visualize where all of this is going!
====>>>>Download a Sample Separation Agreement Here.
IN THE CIRCUIT TRIAL COURT OF THE THIRTEENTH JUDICIAL CIRCUIT
IN AND FOR HILLSBOROUGH COUNTY, FLORIDA
FAMILY LAW DIVISION
JOHN DOE
Petitioner/ Husband
CASE NO: 12-DR-XXXX
DIVISION: Z
JANE DOE
Respondent/Wife
__________________________
MARITAL SETTLEMENT AGREEMENT
This agreement is made and entered into at this ____ day of September 2016, by and between JOHN DOE, (“Husband”) and JANE DOE (“Wife”) collectively hereinafter referred to as “the parties”, who state:
WITNESSETH:
WHEREAS, the parties are Husband and Wife and were married on December 31st in Las Vegas, Nevada.
WHEREAS, the parties have separated.
WHEREAS, there are two minor children born of the marriage; A.D, born in 2003 and D.D., born in 2005. The Wife is not currently pregnant nor expecting any children.
WHEREAS, because of irreconcilable differences in the marriage, the parties have made this marital separation agreement to settle once and for all what they owe to each other and what they can expect to receive from each other. Each of the parties’ states that nothing has been held back, that they have honestly included everything they could think of in listing their assets and debts, and that they believe the other has been open and honest in writing this divorce agreement.
WHEREAS, both parties have filed a Family Law Financial Affidavit, Florida Family Law Rules of Procedure Form 12.902(b) or (c). Because the parties have voluntarily made full and fair disclosure to each other of all our assets and debts, the parties waive any further disclosure under rule 12.285, Florida Family Law Rules of Procedure.
WHEREAS, both parties agree to execute and exchange any divorce papers that might be needed to complete this divorce settlement agreement, including deeds, title certificates, etc.
WHEREAS, each party waives, releases, and relinquishes any actual or potential right, claim, or cause of action against the other party, including but not limited to asserting a claim against the estate of the other party or to act as a personal representative of that estate, except as otherwise provided in this agreement or arising hereunder.
WHEREAS, in the event of any disagreements regarding an issue between the parties, the parties shall first confer and exercise reasonable efforts to resolve such a dispute. Except in an emergency, before a party files legal action regarding an issue of any such dispute or modification of any terms and conditions in this agreement, that party shall make a good faith attempt to submit the dispute or controversy to mediation.
WHEREAS, the terms and provisions of this Agreement are enforceable in contract, in addition to any remedies for enforcement that may be available under any final judgment of dissolution of marriage entered into between the parties.
NOW THEREFORE, in consideration of the sum of the mutual and several promises and undertakings hereinafter made and assume and for good and valuable consideration, the parties do freely and voluntarily agree by and between themselves as follows:
SECTION I. PARENTING PLAN ESTABLISHING PARENTAL RESPONSIBILITY AND TIMESHARING
The Parties shall have legal child custody arrangement and parental responsibility in accordance with the Parenting Plan attached to this Marital Settlement Agreement as Exhibit “A”.
SECTION II. CHILD SUPPORT
The Husband’s obligation to pay support for the children shall continue until each child reaches the age of 18 years, marries, becomes emancipated, or dies, whichever comes first, except in the event the child is enrolled on a full-time basis in high school after the age of 18 years with the expectation of graduation by the 19th birthday, in which event, said child support shall continue for said child through the date of graduation from high school, provided that said child does not otherwise cease being a dependent. Support shall cease upon the death of the payor spouse.
Beginning on October 1, 2016 the Husband will pay child support to the Wife in the amount of Eleven Hundred Dollars & 00/100. ($1100). See Child Support Guidelines attached as Exhibit” B”. This child support shall be paid by an income withholding order.
Subsequent Modifications for Multiple Children: Upon the 18th Birthday of A.D. in 2021 or if still in high school at age 18, on August 1st after A.D’s graduation from high school but not to exceed A.D’s 19th Birthday, Husband’s support obligation for A.D. shall conclude, at which point Husband’s monthly child support payment shall be reduced to $650.00.
Uninsured Expenses: The Husband shall pay Seventy-Five (75%) and the Wife shall pay Twenty-Five (25%) of the uncovered health care expenses . “Uncovered Health Care Expenses” means all ordinary, reasonable and necessary expenses not covered by insurance and incurred for medical, health, dental, psychological or psychiatric care on behalf of the children, including, but not limited to insurance deductibles, hospitalization, prescriptions, physicians, dentists, orthodontics (including braces), contact lenses and eyeglasses, examinations and insurance copayments.
A party who incurs such an expense shall forward the invoice and/or receipt to the other parent within thirty (30) days of incurring expense, and the other parent shall pay his/her share of the same within thirty (30) days of receipt.
Child Support Arrearages: The Husband has an outstanding child support arrearage of $5,787.00. This obligation shall be paid in full in thirty (30) days.
Health & Dental Insurance: The Husband agrees to maintain hospitalization and major medical insurance for the minor children so long as such coverage is reasonably available and until such time as child support terminates.
Party maintaining health insurance policy shall supply the other parent at all times with a valid health insurance card for the benefit of the children and all necessary forms and signatures needed to process insurance claims. Any health insurance reimbursement received by either spouse for sums advanced by the other spouse shall be delivered to the reimbursable spouse within forty-eight (48) hours of receipt.
Life Insurance Policies: As security for the child support obligation described in this agreement the Husband shall maintain a life insurance policy in the amount of $150,000 with the Wife as the beneficiary for the benefit of the minor children, until such time as the obligation to support the children pursuant to the terms of this agreement terminates.
The Life insurance the Husband shall maintain pursuant to this section is subject to the following conditions and restrictions.
- Husband shall be responsible for paying all premiums due to maintain the policy or policies of insurance required herein;
- Husband shall not pledge, hypothecate, assign or encumber this insurance policy;
- Husband’s obligation to maintain said policy or policies shall terminate upon termination of the child support obligation, at which time he shall be entitled to terminate the policy or policies or designate the beneficiary or beneficiaries of his choice;
- Within ten (10) days of entry of the Final Judgment of Dissolution of Marriage, the Husband shall take whatever steps are necessary, including writing a letter to the insurance company to cause the insurance company that has issued the policy or policies of life insurance on his life, as required in this agreement, to deal directly with the Wife so that she can verify that the required amount of insurance on the Husband’s life is in place and that she has been named beneficiary pursuant to the terms of this Agreement and further authorizing the company to provide the Wife at her residence address written notice of any of the following events relating to the life insurance policy or policies’:
- Delays in premium payments and copies of late notices,
- Requests to change the beneficiary designation, including any requests to add or delete a beneficiary from the life insurance policy or policies;
- Requests to decrease the amount of life insurance;
- Failure to make any premium payments associated with the life insurance coverage;
- Request to hypothecate, encumber, or borrow funds from any cash value associated with the life insurance policy or policies;
- Any type of change of address of the life insurance company, or change in ownership, such that the life insurance company’s name or address is changed;
- Any changes in the life insurance policy or policies death coverage;
- Request to terminate insurance coverage and requests for refunds of insurance premiums.
Tax Dependency Exemption: The Husband shall be entitled to claim the minor children as a dependent exemption on his Federal Income Tax return during even years. The Wife shall be entitled to claim the minor children as a dependent exemption on his Federal Income Tax return during odd years. The parties shall execute IRS Form 8332 as required by the Internal Revenue Service to allow the other party to claim this exemption.
SECTION III. EQUITABLE DISTRIBUTION
- Property Division. For an equitable division of marital property, assignment of non-marital property, and as and for the payment of marital debts, the parties shall make the transfers, conveyances, and assignments in accordance with the terms, provisions, covenants as follows below. Any marital asset not listed below belongs to the party who has it currently in their possession.
Marital Home or Other Property: The parties have a home located at 1234 Ideclarethumbwar Lane (hereinafter referred to as the “Marital Residence”). This property is subject to a mortgage (hereinafter referred to as the “Marital Residence Mortgage”). Upon full execution of this agreement the Parties shall list the Marital Residence for sale with an agreed-upon realtor. At the time of the sale, the Parties shall equally divide all proceeds from the sale of the Marital Residence.
Both Parties shall cooperate with each other at all times to sign whatever further documents are necessary to list the property for sale and shall make the property available for show and to prospective purchases. Furthermore, the Parties agree to cooperate with the realtor regarding setting a sales price for the Marital Residence.
During the sale of the home, neither Party shall refuse any reasonable offer submitted, which is defined as plus or minus 5% of the agreed to asking price. If either Party at any time feels that the other party is refusing to act in good faith with regard to the sale of said property, they shall have the right to seek a judicial determination regarding such, and upon the Court finding bad faith on the part of one party or the other, the Court can then proceed to Order a partition of the property, even though the exclusive use and occupancy has not otherwise terminated.
Husband’s Vehicle: The Husband shall have sole title and possession of the Flintstone Car vehicle currently in his possession, free and clear of any right, title, claim, or interest by the Wife. Wife shall convey to Husband any right, title or interest she may have in the car. Husband shall assume and satisfy the outstanding lien which encumbers the vehicle according to the terms and conditions and shall hold harmless the other and indemnify the Wife. In the event Wife fails to convey as aforesaid, the Final Judgment shall act as a conveyance.
Wife’s Vehicle: The Wife shall have sole title and possession of the Punchbuggy microbus currently in her possession, free and clear of any right, title, claim, or interest by the Husband. Husband shall convey to Wife any right, title or interest he may have in the microbus. Wife shall assume and satisfy the outstanding lien which encumbers the vehicle according to the terms and conditions and the Wife shall hold harmless the other and indemnify Husband. In the event Wife fails to convey as aforesaid, the Final Judgment shall act as a conveyance.
Husband’s Retirement Account: The Husband shall have exclusive use, possession, and ownership of any 401k, IRA, or other retirement account listed in his name, unless specified differently in this Agreement. The Wife forever relinquishes any right she may have to any of the accounts specified in this paragraph.
Husband’s Checking Accounts: Husband shall have exclusive use, possession, and ownership and shall be the sole owner of any bank account listed in his respective name, including, but not limited to, checking accounts, savings accounts, or money market accounts. The Wife forever relinquishes any right she may have to any of the accounts specified in this paragraph.
Wife’s Retirement Account: The Wife shall have exclusive use, possession, and ownership of any 401k, IRA, or other retirement account listed in her name, unless specified differently in this Agreement. The Husband forever relinquishes any right he may have to any of the accounts specified in this paragraph.
Wife’s Checking Accounts: Wife shall have exclusive use, possession, and ownership and shall be the sole owner of any bank account listed in her respective name, including, but not limited to, checking accounts, savings accounts, or money market accounts. The Husband relinquishes any right he may have to any of the accounts specified in this paragraph.
Personal Property:
Husband shall have exclusive use, possession, and ownership of all items titled in his name solely including cash on hand, cash in bank, all personal affects, clothing, grooming aids, jewelry and any furnishings currently in his possession.
Wife shall have exclusive use, possession, and ownership of all items titled in her name solely including cash on hand, cash in banks, all personal affects, clothing, grooming aids, and jewelry.
- Division of Liabilities/Debts. Any marital liability not listed below belongs to the party who has it currently in their possession or has the debt titled solely in their name.
Each party shall be responsible for paying his/her respective debts and obligations which they incurred individually, subsequently to filing the Petition. Neither party shall pledge the credit of the other in the future, and the parties shall immediately close any charge accounts for which there is joint liability.
Loan on Wife’s Vehicle: The Wife shall be solely responsible for the loan on the vehicle currently in her possession, and agrees to indemnify and hold harmless the Husband for any liability pursuant to any action taken by any creditor to enforce this debt.
Loan on Husband’s Vehicle: The Husband shall be solely responsible for the loan on his truck and motorcycle currently in his possession and agrees to indemnify and hold harmless the Wife for any liability pursuant to any action taken by any creditor to enforce this debt.
Wife’s Charge/Credit Card Accounts & Other Loans: The Wife shall be responsible for credit card debt or other loans that is or are held in her own name, including but not limited to the Bank of America Card #XX and shall hold the Husband harmless for any liability pursuant to any action taken by any creditor to enforce the debt for which the Wife has accepted responsibility.
Husband’s Charge/Credit Card Accounts & Other Loans: The Husband shall be responsible for credit card debt or other loans that is or are held in his own name, including but not limited to the Discover Card, and shall hold the Wife harmless for any liability pursuant to any action taken by any creditor to enforce the debt for which the Husband has accepted responsibility.
Credit Card & Debt Indemnification: Each of the parties hereby represents that he or she has not contracted and will not contract any debt, charge, or liability in the name of the other, or for which the other might ultimately be held responsible for by a third party creditor. If any party has contracted any debt, charge, or liability in the name of the other without the knowledge of the other, the party who contracted the debt shall be solely responsible for that debt and shall indemnify and hold harmless the other party against any third party creditor.
Other Debts: Should there be any debt, payment for which is not specifically allocated to a party under this agreement, the Party who has incurred such debt shall be solely responsible for the payment of the same, and shall hold the other harmless there from.
Each party shall hold harmless, indemnify and defend the other from any liability resulting from a default in the payment of their respective obligations. However, the parties understand that any promise to hold harmless any debt, whether joint or otherwise, is an obligation between the parties themselves ONLY. Such obligation does not pertain to any obligation by any creditor or any other third party with the relation to any debt which may exist between the parties and any such creditor. Therefore, the fact that one party has agreed to hold the other harmless upon any such debt in no way precludes any such creditor or other third-party from enforcing such obligation against either or both parties. Any such enforcement may include, but not be limited to, suit for judgment, reference upon credit bureau reports, garnishment, and levy upon real property, as well as implementation of other such enforcement mechanisms. Additionally, in the event that the party who has been held harmless from a debt herein initiates application for additional credit, the debt for which he or she was held harmless herein will likely be considered by any such potential lender as part of said party’s overall debt burden despite the hold harmless agreement. This may result in a lender refusing to lend funds to such party. When a party has been held harmless from a debt associated with the real purchase of real estate (i.e. a mortgage) said party may experience additional limitations being places upon him or her as a result of such debt being considered as part of that party’s overall debt burden. Such additional limitations may include, but not be limited to, refusal of a lender to lend funds for purchase of real estate or otherwise, inability of said party to obtain certain types of mortgages, as well as other limitations.
SECTION IV. SEPARATE PROPERTY
Except as otherwise provided herein, the parties agree that whatever property he or she now owns or may hereafter have or acquire in their respective names shall henceforth be considered their sole and separate properties, provided same has been disclosed to the other party. To the extent that an asset, whether same be real, personal, intangible, or tangible be discovered at a later date, the Court should reserve jurisdiction to distribute same between the parties.
SECTION V. ALIMONY
Alimony: The Husband shall pay permanent monthly beginning on October 1, 2016. Beginning with the first payment the Husband shall pay the Wife the sum of Four Thousand ($4,000.00) dollars per month.
Manner of Payment: All alimony payments shall be made via Income Withholding Order.
Termination of Alimony: This alimony shall terminate only upon the death of either spouse or remarriage or cohabitation of the Wife.
Tax Treatment: The alimony shall be taxable to the Husband and tax deductible to the Wife.
Life Insurance Policies: As security for the Husband’s alimony support obligation described in this agreement the Husband shall maintain a life insurance policy in the amount of $100,000.
The Life insurance policy the Husband shall maintain pursuant to this section is subject to the following conditions and restrictions:
Husband shall be responsible for paying all premiums due to maintain the policy or policies of insurance required herein;
Husband shall not pledge, hypothecate, assign or encumber this insurance policy;
The obligation to maintain said policy or policies shall terminate upon termination of alimony;
SECTION VI. COURT COSTS AND ATTORNEY’S FEES
Each party shall be responsible for their own court costs and attorney’s fees.
SECTION VII. TAX ISSUES
The parties shall file separate federal income tax returns for the calendar year 2016 and all years thereafter.
SECTION VIII. GENERAL PROVISIONS
Execution of Documents: The parties agree to execute any and all documents needed to comply with the terms and provisions of this Marital Settlement Agreement.
Release of All Claims: Each party, except as otherwise provided in this Agreement, releases the other from all claims, liabilities, debts, obligations, actions, and causes of action of every kind, whether known or unknown. However, neither party is relieved from any obligation under this agreement, or under any document executed pursuant to this agreement, or under any judgment or order issued incident to this agreement.
Waiver of Rights to Other Party’s Estate: Each party hereby waives any and all rights to inherit part of the Estate of the other at his or her death, except under a Will or Codicil dated subsequently to the date of this Agreement.
Waiver of Further Disclosure: Pursuant to Rule 12.285 (a), the parties agree to waive further disclosure under the Florida Family Law Rules of Procedure.
Tax Advice: Both parties acknowledge that they have not received tax advice from their respective counsel concerning the tax consequences of this Agreement. Each party has had an opportunity to consult with a tax specialist or accountant of his or her own choosing.
Bankruptcy: Each party agrees that the financial obligations assumed by each toward the other, directly or indirectly, as a result of this Agreement shall not be dischargeable in bankruptcy, the parties agreeing that all obligations are non-dischargeable under the terms of the U.S. Bankruptcy Code. If a bankruptcy petition is filed, the debtor party agrees to reaffirm the indebtedness then owed to the other party. Should a bankruptcy court action prejudice either party in the collection of money or receipt of property hereunder, such action shall constitute a substantial change of circumstances such as to justify a modification of the terms and conditions of this Agreement by the Court, including redistribution of assets and an award or modification of lump sum alimony equal to the amount of indebtedness discharged by the debtor party.
Subsequent Dissolution of Marriage: The parties acknowledge that this Agreement, fully executed by each party, shall be submitted to the Court in any dissolution of marriage action and shall govern all rights and interest of and between the parties upon dissolution of their marriage. This Agreement shall be offered into evidence by either party and if acceptable to the Court, shall be incorporated by reference in any judgment that may be rendered. However, incorporation into any judgment shall not prevent the independent survival of this Agreement, which shall be binding on the parties for all time.
Legal Separation: At all times hereafter, each party shall live and continue to live separate and apart at such place or places as he or she may, from time to time, choose or deem fit. Each party shall be free from interference, authority and control, direct and indirect, by the other as if he or she was single and unmarried. Neither party shall molest the other, interfere with the peach and comfort of the other, or compel, or seek to compel, the other to associate, cohabit, or deal with the other.
Each party understands and agrees that this Agreement constitutes the entire contract of the parties. It supersedes any prior understandings or agreements between them. There are no representations or warranties other than those expressly set forth herein.
Reconciliation: The parties recognize the possibility of a reconciliation or a brief period of time that they may resume marital relations. However, it is their intention that a reconciliation, in no way shall abrogate or affect the provisions of this Agreement concerning the settlement and disposition of property rights between the parties in their respective realty and personalty as set forth in this Agreement.
Legal Counsel: Both parties acknowledge they had the opportunity to consult with a divorce attorney to seek legal advice and discuss their rights and obligations under this agreement. Each of the parties has read this agreement and its provisions in full and acknowledges it to be fair and equitable, and are each freely and voluntarily entering into this Agreement.
Waiver of Notice of Final Hearing, Waiting Period, and Appearance at Final Hearing: Both parties agree to waive the thirty (30) day notice of the final hearing so that the final hearing may take place at the Court’s earliest convenience. Both parties expressly waive the statutory twenty (20) day waiting period and consent to the immediate entry of final judgment of dissolution of marriage. The parties hereby state that they have entered into a valid and enforceable marital settlement agreement and they hereby consent to an expedited final hearing before a judge or general master and the waiver of all further notices and appearances herein, so long as the court merely ratifies this Agreement and incorporates it into a final judgment of dissolution of marriage.
I understand I am swearing under oath to the truthfulness of the claims made in this notice and that the punishment for knowingly making false statement includes fines and or imprisonment.
_______________________ _________________________________
Dated Signature of John Doe
STATE OF FLORIDA s/s
COUNTY OF PINELLAS
BEFORE ME, the undersigned authority, personally appeared ____________, who, after being first duly sworn, deposes and says that the statements above are a true and correct, and who is personally known to me or who provided ____________________ as identification.
SWORN TO AND SUBSCRIBED before me this _________ day of ___________, 20__.
___________________________
NOTARY PUBLIC
My commission expires:
I understand I am swearing under oath to the truthfulness of the claims made in this notice and that the punishment for knowingly making false statement includes fines and or imprisonment.
_______________________ _____________________________
Dated Signature of Mary Doe
STATE OF FLORIDA s/s
COUNTY OF Hillsborough
BEFORE ME, the undersigned authority, personally appeared _______, who, after being first duly sworn, deposes and says that the statements above are a true and correct, and who is personally known to me or who provided ____________________ as identification.
SWORN TO AND SUBSCRIBED before me this _________ day of ___________, 20__.
___________________________
NOTARY PUBLIC
My commission expires:
