If you are a party to an action for Dissolution of Marriage or Legal Separation and own joint or community property, then you may wish to enter into a Property Settlement Agreement. A Property Settlement Agreement is a written agreement signed and dated by both parties which sets forth an equitable division of the parties’ assets and debts. The Property Settlement Agreement often also sets forth custody and parenting time arrangements as well as child support, spousal maintenance and other continuing obligations. The Property Settlement Agreement is submitted to the Court with the Decree of Dissolution or Legal Separation at the final hearing of the matter. Certain terms of the Property Settlement Agreement may be merged into the Decree of Dissolution or Legal Separation, but other terms of the Property Settlement Agreement may be kept outside of the Decree so that they can be enforced separate and apart from the Decree.
* The information contained in this message is general and should not substitute for the advice and counsel of a licensed attorney.