In Florida, Marital Settlement Agreement form is a legal document that shows couple’s decisions on asset division and childcare that will become enforceable after spouses are granted a divorce. If you want to learn more about this type of document, check the template, and understand how to fill it out properly, we have gathered everything you need on this page.
Sample Marital Settlement Agreement for Florida Courts
Whether or not you and your spouse have started discussing asset division and child-related information, checking the sample of a Divorce Agreement will help you see which point you need to hit. Feel free to review a Marital Settlement Agreement for Florida in pdf format below.
What Is a Marital Settlement Agreement?
A Marital or Divorce Settlement Agreement is a form where spouses detail how they have decided to divide their property, debts, and accounts as well as the decisions they have made on custody of their minor children. You may draft it and file it with other divorce paperwork to simplify the dissolution process and show a judge that you are willing to end your marriage amicably. Making a decision on important aspects of your divorce together with your spouse will not only speed up the marriage dissolution but ensure a more predictable outcome in terms of asset division as the judge will not make all of the decisions for you.
How to Fill out a Marital Settlement Agreement
When filling out a Marital Settlement Agreement form, you need to carefully read each question and all the available answers before choosing one that suits your personal case best. If you find yourself confused and unable to proceed, it might be best to seek professional help online.
Things that are considered your assets and might be subject to division are:
• Cash that you have on hand or in the bank.
• Stocks and bonds.
• Money someone owes you.
• Life insurance.
• Marital home and other real estate.
• Business interests.
• All types of vehicles.
• Bank accounts and retirement plans.
• Furniture and household items.
• Jewelry and collectibles.
• Any equipment in any of your properties.
It would be necessary to estimate a market value and provide a detailed description of each item that you list. Also, you will have to mention who currently owns it. Note that you are not required to write down the bank or pension account numbers in the form. Other pertinent details that are not as personal would suffice.
Debts and Liabilities
Any mortgages, loans, or money that you owe to someone should be listed in this section. You will need to state:
• Whose name the debt is in.
• What kind of monthly payments should be made.
• How much is currently owed.
There may be other short-term or long-term liabilities that you will have to detail, such as credit card payments, leases, contractual obligations, and even medical bills. It is crucial to consider what you individually or as a family owe certain people or businesses and make sure to write everything down in the form.
If you have underage children, it is expected that you create a Parenting Plan that will present the custody arrangements and parenting schedule that you and your spouse have settled on. Therefore, in the Agreement, you only need to list the names and birth dates of your kids, as well as mention which attachment your Parenting Plan can be found in.
When it comes to child support, things might get more complicated than that. You will not only have to attach a few worksheets with child support calculations, but also indicate:
• What amount would be paid and how often.
• How many kids it would be paid for.
• What the termination date would be for the payments.
Additionally, as each of your kids grows and becomes a legal adult, the amount of child support paid should be reduced. Therefore, you will be required to indicate how a sum would change as each subsequent child reaches the age of majority or any other event outlined in the form occurs.
Insurance and Taxes
Another thing you need to consider if you have kids is insurance. First of all, you will have to mention whose life insurance your children will be covered by and what the amount of it is. Secondly, for health and dental insurance, it would be crucial to state:
• If there is an insurance plan, whose kids are going to be covered by.
• If there is none, how parents will share financial responsibility.
Any uninsured expenses and even college funds information can be addressed in the additional field within this section. Also, parents will have to decide and write down who will retain tax exemptions for kids.
Even if you have kids and are requesting child support, you may still request alimony. While the former is paid for the needs of your children to be met, the purpose of the latter may vary but the spouse receiving it will be able to use it to cater to their own needs. In the Agreement, you have a choice to either forever refuse alimony, or establish the following for it:
• A person who will be making payments.
• The amount to be paid.
• Start and end dates of payments.
• Type of alimony.
You will have to carefully check each type of alimony available in Florida to understand which one suits your case best.
If there are any fees or aspects of your divorce that you believe have been left unaccounted for, you should mention them in the additional field in the end of your Marital Settlement Agreement. Make an itemized list of everything you possess or owe and everyone you are responsible for financially or otherwise to ensure that you have addressed everything in the document.