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What you need to know about divorce agreements

On Behalf of | Mar 11, 2022 | Divorce

It’s never easy going through a divorce in Texas. However, being able to negotiate an agreement with your spouse can make the process a lot smoother.

What is a divorce agreement?

A divorce agreement is a legally binding contract between two people who are getting divorced. This contract usually covers the arrangements for several pertinent issues, such as child custody, property division and alimony. One thing to keep in mind is that a divorce agreement is not the same as a divorce decree, which is the document that actually dissolves the marriage.

How do you go about negotiating a divorce agreement?

The best way to negotiate a divorce agreement is to have an open and honest dialogue with your spouse. Try to be as fair and equitable as possible, and be willing to compromise on certain issues. For instance, you may want to keep the house, but your spouse may want to sell it and split the proceeds. In this case, you might want to compromise and agree to sell the house. It’s important to remember that this is a negotiation, so neither party should focus on “winning” or “losing.”

What does a divorce agreement entail?

A divorce agreement entails how the assets and debts will get divided between the two parties. This includes both physical belongings, such as houses and cars, as well as intangible assets, such as bank accounts and retirement savings. It’s also important to decide who will be responsible for certain debts, such as credit card debt or a mortgage.

A divorce agreement also includes how child custody will be handled. This means both physical custody, which is where the child will live, and legal custody, which is the right to make decisions about the child’s welfare.

Finally, a divorce agreement may also include provisions for spousal support. This is money that one spouse pays to the other to help them maintain their standard of living after the divorce, either temporarily or permanently.

Negotiating a divorce agreement can be difficult, but it’s important to remember that the goal is to reach an agreement that both parties can live with. By being open and honest with your spouse, and by compromising on certain issues, you can hopefully negotiate an agreement that meets everyone’s needs.