Legal Definitions - divorce agreement

A divorce agreement is a formal, written contract created by a couple who are ending their marriage. This document outlines how they will resolve all the necessary issues related to their separation. It covers critical aspects such as how their shared property and debts will be divided, arrangements for child custody and visitation, financial support for their children (child support), and any spousal support (alimony) that one party might pay to the other.

Once both spouses sign the agreement and a court reviews and approves it, the divorce agreement becomes a legally binding order. This means both parties are legally obligated to follow its terms. While couples can negotiate this agreement before or after officially filing for divorce, court approval is essential for it to take full legal effect. It can also be modified in the future if both parties agree to changes and the court approves them.

Here are some examples illustrating a divorce agreement:

• Imagine Sarah and Mark, who have been married for fifteen years and own a house, several investment accounts, and two cars, but do not have children. As they decide to divorce, they work with their attorneys to draft a divorce agreement. This document meticulously details how their house will be sold and the proceeds divided, how their investment portfolios will be split, which car each will keep, and how their joint credit card debt will be allocated. Once signed and approved by the court, this agreement legally binds them to these financial arrangements.

• Consider David and Emily, who have two young children and are divorcing. Their divorce agreement focuses heavily on co-parenting. It specifies a detailed schedule for physical custody, outlining when the children will be with David and when they will be with Emily, including holidays and school breaks. It also addresses legal custody, determining how they will make joint decisions about the children's education, healthcare, and religious upbringing. Furthermore, the agreement includes provisions for child support payments from one parent to the other, ensuring the children's financial needs are met.

• Robert and Lisa initially struggled to agree on many aspects of their divorce, from who would keep their vacation property to the amount of spousal support. After several mediation sessions, they finally reached compromises on all outstanding issues. Their comprehensive divorce agreement then documented these resolutions: the vacation home would be sold with proceeds split, Lisa would receive spousal support for a defined period, and a detailed plan for dividing their retirement accounts was established. This written agreement, once finalized and approved by the judge, transformed their negotiated compromises into enforceable legal obligations for both Robert and Lisa.