Tampa, FL – Divorces can potentially happen to just about any married couple. While this can be a stressful time that is associated with financial losses and the disruption of a family, there are various ways in which the law has attempted to make divorces more efficient and less costly. One of the ways that this can be done is through a divorce settlement agreement.
What is a divorce settlement?
A settlement agreement related to a divorce is a contract that describes where both parties will stand on a number of issues after the marriage has been formally dissolved. This is desirable because it is usually the most cost effective and quickest way for a couple to end a marriage, without going through long court battles and other problems that can take months or years to sort out. When both parties agree on most aspects of how they will live following their separation, this is usually called an uncontested divorce.
The approved marital settlement agreement form
The Florida Supreme Court has approved a form that can be used for the purposes of marital settlement agreements. This should be completed with the assistance of a legal professional. Before formally completing the form, it is beneficial for each spouse to review their assets and other items that are relevant to the main section of the document.
There will need to be a disclosure of financial interests such as cash on hand and in bank accounts, stocks and bonds, and any notes for a loan owed to either spouse. Real estate, including the couple’s primary home, is an asset that must be disposed of according to the couple’s agreement. Cars, boats, and any other vehicles or forms of property used for transportation must be identified and distributed on the form. Couples where one or both spouses own a business will have to decide how those interests will be split on the standard form as well.
Legal assistance with the process to distribute property
The family law attorney for each client will normally review the divorce settlement and ensure that the client understands the terms and will be treated fairly. Each party to the divorce should have their own legal representation to advocate for their interests, otherwise there may be an imbalance of bargaining power if only one spouse is represented.
Getting more information about the divorce process
Anyone who is about to go through a divorce should check with a local lawyer to be sure that their interests are adequately considered. The Law Offices of Yeazell and Sweet represents local clients in the Tampa metro area in all kinds of family law cases.
Firm contact info:
1901 Ulmerton Road, Suite 435, Clearwater, FL 33762