A marital settlement agreement Florida is required in most divorce/dissolution of marriage cases in Orlando, Tavares, Sanford, Kissimmee, Brooksville, and throughout Florida family law courts. Call the Jacobs Law Firm, Divorce Attorney in Orlando and Divorce Attorney in Clermont for more information. Judges may not necessarily require a settlement agreement if the divorce is a simplified dissolution of marriage (all issues are agreed on and there is no alimony or other substantial assets being divided). When there are assets and liabilities to be divided in equitable distribution, a marital settlement agreement is a vital component of a Florida divorce. Call now to speak with a divorce attorney at (407) 335-8113.
What is a Marital Settlement Agreement in Florida?
In essence, a marital settlement agreement in Florida is designed to equitably (fairly and judiciously) divide a married couple’s assets and liabilities (credit card debt, student loan debt, mortgage debt, etc.). The marital settlement agreement must be notarized by both spouses and submitted into the court file by your attorney. A marital settlement agreement in Orlando, Tavares, Sanford or Kissimmee, will be incorporated by reference into the final judgment. The agreement involving the equitable distribution of marital property becomes a binding contract once ratified by the family law divorce court. The agreement should provide as much specificity and clarity as possible to ensure its enforceability if contested.
A marital settlement agreement Florida will specify which spouse receives alimony, real property (house, condo, apartment), any cars and/or boats, how bank accounts will be divided, and any other marital assets that are deemed to be marital property. There is a presumption by law that all property accrued during the marriage is marital property unless rebutted or as otherwise agreed upon by the parties themselves. A settlement agreement may also incorporate how the parties intend to claim the child tax credit, and any daycare tax credits that may be temporarily available.
The less glamorous aspect of a marital settlement agreement in Florida is the liabilities portion. Any agreement should provide for how the parties will divide their credit card, student loan, car loan, and/or other debts. If amicable, litigants often choose to accept responsibility for their own debts accrued during the marriage, unless they are unable to afford repayment in which case certain compromises may be brokered. If the case goes to trial, the court will ultimately divide liabilities in an equitable manner based on a number of factors, considerations, and the strength of the evidence presented. Unequal distribution of marital assets may be plead for, and can be a fact specific inquiry.
Financial Affidavits and Marital Settlement Agreements
A marital settlement agreement Florida is made in conjunction with the parties’ financial affidavits. The assets and liabilities described in the financial affidavits should be accounted for via equitable distribution in the settlement agreement. Call for a family law consultation to speak with a family law attorney about drafting your marital settlement, or litigating your divorce case. Uncontested divorce lawyer Jonathan Jacobs is prepared to work with you. Call now to speak with a divorce attorney at (407) 335-8113.