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Marital Settlement Agreement
Marital Settlement Agreement
In re the Marriage of:
[Petitioner], Petitioner, Case No. _______________
and
[Respondent], Respondent.
Date prepared:
[Petitioner], Petitioner, Case No. _______________
and
[Respondent], Respondent.
Date prepared:
This Marital Settlement Agreement ("Agreement") is entered into by [Spouse 1] ("Spouse 1") and [Spouse 2] ("Spouse 2"), together the "Parties."
WHEREAS, the Parties were married on [marriage date] in [place];
WHEREAS, the Parties separated on [separation date];
WHEREAS, grounds for dissolution: [grounds];
WHEREAS, at least one Party satisfies the residency requirement of [state];
WHEREAS, there are no minor children of this marriage;
WHEREAS, the Parties intend to fully and finally settle all rights and obligations arising from the marriage — property, debts, spousal support, and taxes.
WHEREAS, the Parties were married on [marriage date] in [place];
WHEREAS, the Parties separated on [separation date];
WHEREAS, grounds for dissolution: [grounds];
WHEREAS, at least one Party satisfies the residency requirement of [state];
WHEREAS, there are no minor children of this marriage;
WHEREAS, the Parties intend to fully and finally settle all rights and obligations arising from the marriage — property, debts, spousal support, and taxes.
SECTION 1: SPOUSAL SUPPORT / ALIMONY
1.1 Payment: shall pay spousal support of $[amount] ([type] support) for [duration], beginning on the date of the decree.1.2 Termination: Spousal support shall terminate on the death of either Party, the recipient's remarriage, or the recipient's cohabitation in a marriage-like relationship — whichever occurs first.
1.3 Tax Treatment: Because this Agreement is executed after December 31, 2018, spousal support is NOT deductible by the payer and NOT taxable to the recipient (Tax Cuts and Jobs Act; IRC §215 repealed). Neither Party shall claim a deduction or include support as income.
SECTION 2: PERSONAL PROPERTY & VEHICLES
2.1 Vehicles: No vehicles to divide.Any vehicle titled in a Party's name shall remain that Party's sole property, and that Party shall assume any associated loan and hold the other harmless. Title shall be transferred within 30 days where ownership is awarded to the other Party.
SECTION 3: FINANCIAL ACCOUNTS & RETIREMENT
3.1 Bank and Financial Accounts: No joint accounts to divide. Each Party retains accounts titled in their own name.Each Party waives any claim to accounts titled solely in the other's name. Joint accounts shall be closed or retitled as specified above.
3.2 Retirement and Pension Plans: No retirement or pension plans are divided by this Agreement. Each Party retains their own accounts as their sole and separate property.
SECTION 4: DEBTS & LIABILITIES
4.1 Allocation: Each debt is assigned to one Party as follows:No joint debts to allocate.
Each Party shall timely pay and discharge all debts allocated to them and shall not allow any such debt to become delinquent.
4.2 Hold Harmless / Indemnification: The Parties waive any claim for indemnification or contribution regarding debts allocated under this Agreement.
4.3 Creditor Caveat: This allocation binds the Parties to each other only. It does NOT bind creditors, who may pursue either Party on a joint obligation regardless of this Agreement. The Parties shall refinance or close joint accounts where possible to separate their obligations.
SECTION 5: TAXES & FILING STATUS
5.1 Filing Status: For the applicable tax year(s), the Parties shall file: [filing status]5.2 Refunds and Liabilities: Any joint tax refund shall be allocated equally between the Parties unless otherwise agreed. Any joint tax liability shall be paid from joint assets, and each Party shall indemnify the other for liabilities arising from their individual income.
SECTION 6: FINANCIAL DISCLOSURE
6.1 Each Party represents that they have fully, truthfully, and completely disclosed to the other all assets, debts, income, and expenses, and has exchanged the financial disclosures required by .6.2 Each Party enters into this Agreement voluntarily, without fraud, duress, or undue influence, and acknowledges that they have had the opportunity to consult with independent legal counsel of their choice.
6.3 If either Party has failed to disclose any asset, debt, or income, the other Party may — in addition to any other remedies — seek to set aside this Agreement and pursue sanctions, including the award of the concealed asset or its value.
SECTION 7: GENERAL PROVISIONS
7.1 Merger and Incorporation: This Agreement shall be merged into and incorporated in the decree of dissolution unless the Parties expressly elect that it survive as a separate contract. The provisions regarding child custody, child support, and spousal support (if any) shall survive as independent obligations.7.2 Governing Law: This Agreement shall be governed by and construed under the laws of .
7.3 Entire Agreement: This Agreement constitutes the entire agreement between the Parties and supersedes all prior understandings, agreements, and representations.
7.4 Severability: If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.
7.5 Modification: This Agreement may only be modified in writing signed by both Parties — EXCEPT that child custody and child support remain modifiable by the court on a material change in circumstances, regardless of any provision to the contrary.
7.6 Further Assurances: The Parties shall execute any additional documents reasonably necessary to carry out the terms of this Agreement, including deeds, QDROs, title transfers, and tax documents.
7.7 Binding Effect: This Agreement binds the Parties and their heirs, executors, administrators, successors, and assigns.
SECTION 8: STATE NOTICES
Property Regime Notice: is an equitable distribution state. Marital property is divided fairly but not necessarily equally. The court considers factors including the marriage's length, each spouse's finances, and contributions.Residency: at least one Party meets 's residency requirement — .
Financial Disclosure: The Parties acknowledge that they have exchanged the financial disclosures required by .
SECTION 9: EXECUTION
IN WITNESS WHEREOF, the Parties have executed this Marital Settlement Agreement on the date(s) set forth below.SPOUSE 1 (Petitioner):
Signature: _________________________
Printed Name: ________________
Date: _________________________
Signature: _________________________
Printed Name: ________________
Date: _________________________
SPOUSE 2 (Respondent):
Signature: _________________________
Printed Name: ________________
Date: _________________________
Signature: _________________________
Printed Name: ________________
Date: _________________________
NOTARY ACKNOWLEDGMENT
State of _______________, County of _______________
On this ______ day of __________, 20__, before me, a notary public, personally appeared ______________________________, proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in their authorized capacity(ies), and that by their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Notary Public: _________________________
My Commission Expires: _________________
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Marital Settlement Agreement