Divorce can be a tough and emotional process. To make things easier, having a clear checklist for divorce settlement can help you stay organized and ensure that all important aspects are covered. This checklist provides an example of a marital settlement agreement (MSA), designed to help you understand what needs to be considered.

1. Alimony/Maintenance

  • Decide if one spouse will pay the other alimony (financial support).
  • Determine the amount and duration of payments.
  • This is a crucial part of any checklist for divorce settlement.

2. Health Insurance and Expenses

  • Discuss who will continue to provide health insurance.
  • Address how health expenses will be covered.
  • Ensure these details are included in your divorce settlement checklist.

3. Real Estate/Marital Residence

  • Decide who will stay in the marital home or if it will be sold.
  • Determine how the home’s value will be divided.
  • Include real estate details in your marital settlement agreement example.

4. Financial Assets

  • Divide non-retirement financial assets like bank accounts and investments.
  • Discuss stock options or restricted stock.
  • An essential element of any checklist for divorce settlement.

5. Personal Property

  • Decide who gets what in terms of personal belongings and household items.
  • Include details on vehicles and auto leases.
  • Important for your divorce settlement checklist.

6. Debts

  • Divide any debts such as credit card balances and loans.
  • Address how each party will handle any joint debts.
  • Key aspect of the checklist for a divorce settlement.

7. Tax Issues

  • Decide if you will file a joint tax return for the current year.
  • Determine who will get any tax refunds or pay any taxes due.
  • A common element in a marital settlement agreement example.

8. Attorney’s Fees

  • Discuss who will pay for the attorney’s fees.
  • Decide if these costs will be shared or if one person will cover them.
  • Always include attorney’s fees in your divorce settlement checklist.

9. Child Support

  • Determine the amount of child support to be paid.
  • Set a payment schedule and discuss any potential changes in the future.
  • Child support is a critical part of a checklist for divorce settlement.

10. Parental Responsibility

  • Agree on how parenting time and responsibilities will be shared.
  • Include details on decision-making for the child’s upbringing.
  • This should be clear in your marital settlement agreement example.

11. Child’s Health and Expenses

  • Decide who will provide health insurance for the child.
  • Address how non-covered health expenses will be shared.
  • An essential part of your divorce settlement checklist.

12. Child’s Education and Activities

  • Discuss how to cover costs for the child’s education, including daycare and college.
  • Address expenses for extracurricular activities and hobbies.
  • Ensure these are included in your checklist for divorce settlement.

13. Income Tax Exemption for Children

  • Decide which parent will claim the child on tax returns.
  • Consider rotating this benefit each year.

A clear marital settlement agreement checklist can help make the divorce process smoother and less stressful. By addressing these points, both parties can ensure a fair and organized settlement. Whether you have kids or not, this guide provides a helpful framework to navigate your divorce settlement checklist.