Marital Settlement Agreements

In many divorce actions, the parties are unable to compromise on any points of contention and, ultimately, will seek the input of the court as to how their disputes should be resolved. In some cases, though, divorcing couples are able to reach decisions on certain issues and are able to memorialize their understanding in marital settlement agreements. While such agreements are not appropriate in every dissolution proceeding, it is important for anyone considering ending their marriage to understand all of their options, and they should speak to a lawyer as soon as possible. Attorney Sandy T. Fox is a skilled Miami divorce lawyer who can assess your case and advise you on the best manner to proceed in pursuit of your desired results. Mr. Fox is a Florida Bar Board Certified Specialist in Marital & Family Law, and he frequently represents people in divorce actions in Miami.

Marital settlement agreements allow parties to resolve disputes in divorce actions without intervention from the courts. Such agreements will typically include provisions addressing the division of marital assets, including personal property, retirement accounts, real estate, and bank accounts, as well as marital liabilities, alimony, child custody, child support, and visitation rights.

It is important to note that a marital settlement agreement is a legally binding contract that, once signed by both parties and approved by the court, becomes part of the final divorce decree. As such, they should not be entered into without careful consideration and the assistance of an attorney.

The process of creating a marital settlement agreement begins with negotiation, where both parties discuss and ultimately agree upon the terms. Many couples will engage in mediation at this stage to facilitate developing the agreement. It's essential that both parties fully disclose their financial situations to ensure transparency and fairness in the agreement. Further, full disclosure helps prevent future disputes and potential invalidation of the agreement due to nondisclosure or fraud.

After a couple submits a marital settlement agreement to the court, the court will conduct a thorough review to ensure the agreement is fair, equitable, and legal. In doing so, the court will first ensure that both parties entered into the agreement voluntarily, without coercion, duress, or undue influence, and that both parties fully disclosed their financial information during the negotiation process. Next, the court will review the terms of the agreement, specifically those pertaining to the division of marital assets and liabilities and alimony, to confirm that they are fair and reasonable.

If a marital settlement agreement involves children, the court will also assess whether the terms pertaining to custody and visitation are in the best interests of the children. Similarly, the court will evaluate whether provisions defining child support agreements rights and obligations align with Florida's child support guidelines, which consider both parents' incomes, the number of children, and the time each parent spends with the children. Finally, the court will verify that all of the terms of the marital settlement agreement comply with Florida law.

If a court approves a marital settlement agreement, it will incorporate the agreement into the final judgment of dissolution of marriage, making it enforceable as a court order. If the agreement is found lacking in any of these areas, the judge may request modifications or, in some cases, reject the agreement entirely.

Determining how assets should be divided in divorce actions generally requires parties to fully disclose their finances, and if they fail to do so, it could result in an unjust division. If you want to learn more about financial disclosures in divorce, it is in your best interest to speak with an attorney. The trusted Miami divorce attorneys of the Law Offices of Sandy T. Fox, P.A. can advise you of your options and aid you in seeking a fair and equitable division of marital assets. We have an office in Miami, and we frequently represent parties in divorce actions throughout the city. You can contact us at 800-596-0579 or via our online form to schedule a free and confidential conference.