Property Settlement

If the parties are able to reach an agreement on all, or some issues, they can enter into a Property Settlement Agreement. Property Settlement Agreements can be negotiated and drafted with the assistance of each party’s counsel and sometimes they are drafted as part of a mediation. These Agreements are contracts that address the division of assets and liabilities, custody, child support and spousal support and all other matters arising from the marriage. Upon entry of a Final Order of Divorce, your attorney will request that the Property Settlement Agreement be affirmed, ratified, and incorporated into the Final Order, which will make the contract enforceable as a court order. If one party fails to abide by the terms of the Agreement, the other party can seek enforcement through the court and seek all available remedies through the court’s contempt powers. If you have no minor children and have resolved all remaining issues arising from the marriage with a Property Settlement Agreement, a divorce may be finalized after living separate and apart for a period of 6 months.