Content Overview
Form Breakdown
| Fact Name | Description |
|---|---|
| Purpose | The Michigan Divorce Settlement Agreement form outlines the terms agreed upon by both parties regarding asset division, child custody, and support obligations during a divorce. |
| Governing Law | This form is governed by Michigan Compiled Laws, specifically the Divorce Act (MCL 552.6 et seq.), which provides the legal framework for divorce proceedings in Michigan. |
| Mutual Agreement | Both parties must voluntarily sign the agreement, indicating their consent to the terms without coercion or undue influence. |
| Filing Requirement | While the form itself is not filed with the court, it serves as an essential document that may be referenced during the divorce proceedings. |
| Modification | Once signed, the agreement can be modified only if both parties consent to the changes and a new agreement is drafted and signed. |
Sample - Michigan Divorce Settlement Agreement Form
Michigan Divorce Settlement Agreement Template
This Divorce Settlement Agreement (“Agreement”) is made and entered into on this ___ day of __________, 20___, by and between:
Party A: ____________________________
Address: ________________________________
Phone: _________________________________
Email: _________________________________
Party B: ____________________________
Address: ________________________________
Phone: _________________________________
Email: _________________________________
This Agreement outlines the terms under which the parties agree to settle matters related to their divorce pursuant to Michigan state laws.
1. Background
The parties were married on __________, 20___ in __________, ______. They have one (1) child together: Name: ____________________________ (Date of Birth: _____________).
2. Property Division
The parties agree to the following division of marital property:
- Party A shall retain the following property: _______________________.
- Party B shall retain the following property: _______________________.
- Any joint accounts will be divided as follows: _______________________.
3. Child Custody and Support
Child custody and support shall be maintained as follows:
- Physical custody shall be awarded to: ____________.
- Legal custody shall be awarded to: ____________.
- The monthly child support amount shall be: $__________.
4. Spousal Support
The parties agree to the following spousal support provisions:
- Spousal support to be paid by: Party ______.
- The amount will be $________ per month.
- The duration of spousal support will be: ____________.
5. Additional Agreements
The parties also agree to the following terms:
- Health insurance coverage for the child shall be provided by: ____________.
- Any extraordinary expenses for the child shall be shared as follows: ____________.
6. Final Agreement
This document represents the final agreement between the parties. Both parties acknowledge that they have read and understood the terms stated herein.
Party A's Signature: _______________________________
Date: ____________
Party B's Signature: _______________________________
Date: ____________
This Agreement shall be submitted to the appropriate Michigan court for approval as part of the divorce proceedings.
Common mistakes
Filling out the Michigan Divorce Settlement Agreement form can be a daunting task. Many individuals make common mistakes that can complicate the process. One frequent error is not providing complete information. Omitting details about assets, debts, or income can lead to misunderstandings and delays in the divorce proceedings.
Another common mistake is failing to accurately list all marital assets and liabilities. Many people underestimate the value of their belongings or forget to include certain accounts. This oversight can result in an unfair distribution of property, leading to disputes later on.
Additionally, some individuals neglect to consider tax implications when dividing assets. For example, retirement accounts and investments may have tax consequences that affect their overall value. Without this consideration, one party may end up with a significantly less beneficial settlement.
Inaccurate calculations of child support or spousal support are also prevalent. People often misinterpret guidelines or fail to account for changes in income. This can create financial strain and resentment between parties.
Moreover, many individuals do not take the time to read the entire form carefully. Skimming through sections can lead to missed instructions or requirements. As a result, the form may be filled out incorrectly, requiring resubmission and additional time.
Another mistake is not seeking professional advice. Some individuals believe they can navigate the process without assistance. However, consulting with a lawyer or mediator can provide valuable insights and help avoid costly errors.
People also sometimes forget to include provisions for future changes, such as modifications to custody or support arrangements. Life circumstances can change, and having a plan in place can save time and stress later.
Finally, many fail to sign and date the agreement correctly. An unsigned or improperly dated form can render the entire document invalid. Ensuring all signatures are in place is crucial for the agreement to be enforceable.
Discover More Divorce Settlement Agreement Templates for Specific States
Settlement Agreement Divorce Georgia - Addresses future scenarios that could affect the agreement.
Massachusetts Separation Agreement Template - It is advisable for both parties to seek legal guidance when drafting the agreement.
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Divorce Templates - The agreement may include provisions for the sale of shared properties.