Marital Settlement Agreements: What is Included?

California couples who are getting a divorce will need to divide up their personal and real property, other assets, debts and liabilities by entering into a marital settlement agreement. In an uncontested divorce, the property is divided and agreed to by both parties. In a contested divorce, if the parties cannot agree upon a property division, the court will decide what is just and fair for them. The State of Florida is a community property state. The Court will look at real property, personal property, pension and retirement plans, annuities, insurance policies, employee stock options, stocks and stock options, savings accounts, bonuses and commissions and profit sharing plans and divide them in a reasonable and equitable manner. Separate property is not included in the agreement.

Separate property in California consists of:

All property owned prior to the marriage
Property acquired during marriage by gift, bequest, devise, or descent
Rents and profits from property individually owned by one spouse
After legal separation, all earnings of each party

If you and your spouse agree to an uncontested divorce, and you do not have any assets, debts, liabilities or children, then you won’t need to enter into a marital settlement agreement in California.

Issues to be Addressed

The marital settlement agreement typically addresses the following issues:

Division of the family home and other real property, personal property such as furniture, art, collectible items, jewelry, cars, boats, etc.
Child custody, child support and child visitation and spousal support
Living expenses
College tuition and expenses
Health insurance and dental insurance for the children
Division of assets such as bank accounts, life insurance policies, pension, profit sharing and other retirement accounts, stocks, stock options, bonds and annuities.
Joint credit cards, credit card debt and other debts and liabilities such as taxes

The division of property and assets can become quite emotional and hostile so it is recommended that you speak to a California family law attorney if you are contemplating getting a divorce.

Final Decree

Once you and your spouse come to an agreement, then you can request that the marital property settlement agreement become part of the divorce decree finalizing your marriage, and you can move on with your life. The agreement will then be considered part of a court order which is enforceable. If it is not part of your decree, then it is just considered a contract between you and your spouse, which you would have to litigate separately later if your spouse breaches the contract.

Hire a Family Law Attorney

It is recommended that you hire a California family law attorney to represent you in a divorce matter to protect your interests. Divorces are complicated in California, and most people are not aware of the California divorce laws. A family law attorney is knowledgeable about California divorce laws, and can explain them to you as well as the divorce process.

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