draft settlement agreement

8/2/2019 Draft Settlement Agreement

1/15

Draft Settlement Agreement

WFName WMName WLName (the Wife) and HFname HMName HLName

HSuffix (the Husband) have reached this Draft Settlement Agreement in mediation and intend

for it to form the basis of an uncontested divorce, after legal review.

1. Children.

1.1. Custody.

1.1.1. The Husband and the Wife will share joint legal and physical custody of the minorchildren of the parties, namely Child2Name, born C2Dob and Child1Name, bornC1Dob (the Children). The Husband and the Wife mutually acknowledge the needs ofthe Children for each parents love, attention, and guidance, and the parties agree to

cooperate fully with each other in order to provide for the best interest and welfare of theChildren. The parties further recognize the need to cooperate with each other in matters

affecting the general health, welfare, education, and well-being of the Children.

1.1.2. Within the context of joint physical custody, the parties intend for the Childrensprimary residence to be with the Wife. The parties further intend for the Wife to haveresponsibility for making day-to-day decisions affecting the Childrens lives. The Husbandand the Wife will consult with each other and will mutually agree with respect to majordecisions affecting the Children.

1.1.3. If the parties are unable to agree, however, the party listed below will have primaryauthority and responsibility regarding involvement of the Children in each of thedesignated areas:

Responsibility Area PartyAcademicReligious

Civic

CulturalAthletic

Medical and Dental Care

Other Activities

1.1.4. Within the context of joint physical custody, the parties intend for the Childrens

primary residence to be with the Husband. The parties further intend for the Husband tohave responsibility for making day-to-day decisions affecting the Childrens lives. TheHusband and the Wife will consult with each other and will mutually agree with respect tomajor decisions affecting the Children.

1.1.5. If the parties are unable to agree, however, the party listed below will have primaryauthority and responsibility regarding involvement of the Children in each of thedesignated areas:


2/15

Responsibility Area PartyAcademicReligious

Civic

Cultural

AthleticMedical and Dental Care

Other Activities

1.1.6. The Wife shall have the care, custody, and control of the minor children of theparties, namely Child2Name, born C2Dob and Child1Name, born C1Dob (theChildren).

1.1.7. The Husband shall have the care, custody, and control of the minor children of theparties, namely Child2Name, born C2Dob and Child1Name, born C1Dob (theChildren).

1.2. Visitation

The Wife and the Husband will cooperate to devise a parenting plan that responds to the needs of

the Children. Both the Wife and the Husband intend for this schedule and plan to be as flexibleas possible. If the Wife and the Husband are not able to agree on the parenting schedule,

however, the Husband will have the right to visit the Children as follows:

1.3. Visitation After Each Child is Three Years Old

The Wife and the Husband will cooperate to devise a parenting plan that responds to the needs ofthe Children. Both the Wife and the Husband intend for this schedule and plan to be as flexibleas possible. If the Wife and the Husband are not able to agree on the parenting schedule,

however, the Husband shall have the right to visit the Children as follows, subject to the more

restricted schedules stated for younger children in Sections 1.4 and 1.5:

1.3.1. The first and third full weekends of each month from 6:00 p.m. on Friday until 6:00p.m. the following Sunday (the first weekend of a month beginning on the first Friday ofeach month).

1.3.2. Each Christmas Day from 3:00 p.m. until 3:00 p.m. on the following New Years

day.1.3.3. Thirty-one (31) days during the summer (to be taken between June 10th and August15th), to be selected by the Husband but upon written notice to the Wife at least thirty (30)days in advance of such visitation;

1.3.4. During the odd years, A.E.A. (Spring Break) vacation from 9:00 a.m. Saturdayuntil the following Saturday at 6:00 p.m.


3/15

1.3.5. During the even years, Thanksgiving vacation from 6:00 p.m. Wednesday untilSunday at 6:00 p.m.

1.3.6. Every other birthday of each child from 6:00 p.m. on said date until 8:00 a.m. of thefollowing day, beginning with the next birthday.

1.3.7. Every Fathers Day from 9:00 a.m. until 6:00 p.m. of the same day.

1.3.8. On the birthday of the Husband from 3:00 p.m. on said date until 8:00 p.m. of thesame day.

1.3.9. At such other times as agreed upon between the parties.

Each parent shall keep the other informed on a current basis as to the primary residence address

and telephone number where the Children reside or visit.

1.4. Restricted Visitation Through First BirthdayThe Husband shall have the right of visitation with any child of the parties under the age oftwelve (12) months as follows:

1.4.1. On the first and third Sunday of each month, at the place where the child lives. Theperiods of visitation shall be limited to three (3) hours in duration.

1.4.2. On Christmas Day, at the place where the child lives, for three (3) hours in durationin the afternoon.

1.4.3. The Husband shall notify the Wife of the hours of the intended visit not less thanone week before the day of said visitation.

1.4.4. Any other reasonable times and places upon which the parties can agree.

Each parent shall keep the other informed on a current basis as to the primary residence addressand telephone number where the child resides or visits.

1.5. Restricted VisitationAges 1-3

The Husband shall have the right of visitation with any child of the parties who is over the agetwelve (12) month and under the age of three (3) years, as follows:

1.5.1. On the first and third Sunday of each month from 8:00 a.m. until 6:00 p.m. (thefirst weekend of a month beginning on the first Friday of each month).

1.5.2. On the birthday of the said child from 6:00 p.m. until 8:00 p.m.


4/15

1.5.3. On each Christmas Day from 10:00 a.m. until 6:00 p.m.

1.5.4. On Fathers Day from 12:30 p.m. until 6:00 p.m.

1.5.5. On the birthday of the Husband from 6:00 p.m. until 8:00 p.m.

1.5.6. Any such other times as agreed upon between the parties.


1.6. Visitation

The Husband will be entitled to reasonable and liberal visitation with the Children.

1.7.

VisitationThe Husband and the Wife will cooperate to devise a parenting plan that responds to the needs of

the Children. Both the Husband and the Wife intend for this schedule and plan to be as flexible

as possible. If the Husband and the Wife are not able to agree on the parenting schedule,however, the Wife will have the right to visit the Children as follows:

1.8. Visitation After Each Child is Three Years Old

The Husband and the Wife will cooperate to devise a parenting plan that responds to the needs of

the Children. Both the Husband and the Wife intend for this schedule and plan to be as flexible

as possible. If the Husband and the Wife are not able to agree on the parenting schedule,however, the Wife shall have the right to visit the Children as follows, subject to the more

restricted schedules stated for younger children in Sections 1.9 and 1.10:

1.8.1. The first and third full weekends of each month from 6:00 p.m. on Friday until 6:00p.m. the following Sunday (the first weekend of a month beginning on the first Friday ofeach month).

1.8.2. Each Christmas Day from 3:00 p.m. until 3:00 p.m. on the following New Yearsday.

1.8.3. Thirty-one (31) days during the summer (to be taken between June 10th and August15th), to be selected by the Wife but upon written notice to the Husband at least thirty (30)days in advance of such visitation;

1.8.4. During the odd years, A.E.A. (Spring Break) vacation from 9:00 a.m. Saturdayuntil the following Saturday at 6:00 p.m.


5/15

1.8.5. During the even years, Thanksgiving vacation from 6:00 p.m. Wednesday untilSunday at 6:00 p.m.

1.8.6. Every other birthday of each child from 6:00 p.m. on said date until 8:00 a.m. of thefollowing day, beginning with the next birthday.

1.8.7. Every Mothers Day from 9:00 a.m. until 6:00 p.m. of the same day.

1.8.8. On the birthday of the Wife from 3:00 p.m. on said date until 8:00 p.m. of the sameday.

1.8.9. At such other times as agreed upon between the parties.

Each parent shall keep the other informed on a current basis as to the primary residence address

and telephone number where the Children reside or visit.

1.9. Restricted Visitation Through First BirthdayThe Wife shall have the right of visitation with any child of the parties under the age of twelve(12) months as follows:

1.9.1. On the first and third Sunday of each month, at the place where the child lives. Theperiods of visitation shall be limited to three (3) hours in duration.

1.9.2. On Christmas Day, at the place where the child lives, for three (3) hours in durationin the afternoon.

1.9.3. The Wife shall notify the Husband of the hours of the intended visit not less thanone week before the day of said visitation.

1.9.4. Any other reasonable times and places upon which the parties can agree.


1.10. Restricted VisitationAges 1-3

The Wife shall have the right of visitation with any child of the parties who is over the agetwelve (12) month and under the age of three (3) years, as follows:

1.10.1. On the first and third Sunday of each month from 8:00 a.m. until 6:00 p.m. (the firstweekend of a month beginning on the first Friday of each month).

1.10.2. On the birthday of the said child from 6:00 p.m. until 8:00 p.m.


6/15

1.10.3. On each Christmas Day from 10:00 a.m. until 6:00 p.m.

1.10.4. On Fathers Day from 12:30 p.m. until 6:00 p.m.

1.10.5. On the birthday of the Wife from 6:00 p.m. until 8:00 p.m.

1.10.6. Any such other times as agreed upon between the parties.


1.11. Visitation

The Wife will be entitled to reasonable and liberal visitation with the Children.

1.12.

Child Support.1.12.1. The Husband will pay to the Wife $HChildSupport per month for the supportand maintenance of the Children. Said payments will begin on __________________ andwill continue on the first day of each month thereafter. Child Support will continue as toeach child until that child reaches the age of 19, enters college, marries, becomes self-supporting, dies, or as otherwise provided by law.

1.12.2. This Agreement incorporates by reference a separate order entitled Order forIncome Withholding. This order will not be served until further order of the court. Theparties have agreed to an alternative arrangement for the payment of Child Support,

namely that each month, on or before the day he is obligated to pay Child Support, theHusband will mail a check to the Wife by first class mail at her residential address.

1.12.3. The Wife will pay to the Husband $WChildSupport per month for the supportand maintenance of the Children. Said payments will begin on ____________ and willcontinue on the first day of each month thereafter. Child Support will continue as to eachchild until that child reaches the age of 19, enters college, marries, becomes self-supporting,dies, or as otherwise provided by law.

1.12.4. This Agreement incorporates by reference a separate order entitled Order forIncome Withholding. This order will not be served until further order of the court. The

parties have agreed to an alternative arrangement for the payment of Child Support,namely that each month, on or before the day she is obligated to pay Child Support, theWife will mail a check to the Husband by first class mail at his residential address.

1.12.5. The Wife has ample income with which to support the Children, so the parties haveagreed that the Husband will pay no Child Support. There is no Income WithholdingOrder attached, because there is no Child Support to be paid.


7/15

1.12.6. The Husband has ample income with which to support the Children, so the partieshave agreed that the Wife will pay no Child Support. There is no Income WithholdingOrder attached, because there is no Child Support to be paid.

1.12.7. On April 30 of each year until all the Children have reached the age of 19, the

parties will exchange federal tax returns, most recent pay stubs, and information on childcare and health insurance costs, so that either party may recalculate Child Support.

1.13. Medical Costs.

1.13.1. The Husband will provide and maintain hospitalization and major medicalinsurance for the use and benefit of the Children and will furnish appropriate cards for theWifes use.

1.13.2. The Husband will pay for 50% of any and all reasonable and necessary doctor,hospital, medical, prescription drug, vision, dental, orthodontic, or other medically-related

expenses for the Children not covered by insurance. The Husband will pay such expensesas they are incurred. The Wife will pay the remaining 50%.

1.13.3. The Wife will provide and maintain hospitalization and major medical insurancefor the use and benefit of the Children and will furnish appropriate cards for theHusbands use.

1.13.4. The Wife will pay for 50% of any and all reasonable and necessary doctor, hospital,medical, prescription drug, vision, dental, orthodontic, or other medically-related expensesfor the Children not covered by insurance. The Wife will pay such expenses as they areincurred. The Husband will pay the remaining 50%.

1.13.5. The obligations to pay for medical insurance and medical expenses will continue asto each child until that child reaches the age of 19, marries, becomes self-supporting, dies,or as otherwise provided by law; except that if a child enrolls in college, such obligationswill continue until the obligation to pay for college terminates.

1.13.6. The obligations of this to pay for medical insurance and medical expenses willcontinue as to each child until that child reaches the age of 19, marries, becomes self-supporting, dies, or as otherwise provided by law.

1.14.

College1.14.1. The Husband will pay for each child ___% of tuition, room and board, fees, andbooks for up to five years of undergraduate education, at the then-prevailing rates for anin-state student at _______________________. The Husbands obligation will not exceedfour academic years and will not extend past such childs 23

rdbirthday. The Husbandsobligation will be due only when such child has maintained at least a ___ average in anypreceding college courses. The reference to the specific school above is not intended to


8/15

require that either child attend that school, but merely to provide a reference for theHusbands maximum financial obligation for college.

1.14.2. The Wife will pay for each child ___% of tuition, room and board, fees, and booksfor up to five years of undergraduate education, at the then-prevailing rates for an in-state

student at _______________________. The Wifes obligation will not exceed four academicyears and will not extend past such childs 23rdbirthday. The Wifes obligation will be dueonly when such child has maintained at least a ___ average in any preceding collegecourses. The reference to the specific school above is not intended to require that eitherchild attend that school, but merely to provide a reference for the Wifes maximumfinancial obligation for college.

1.14.3. The Husband will pay 50% and the Wife will pay 50% of the expenses for eachchild of tuition, room and board, fees, and books for up to five years of undergraduateeducation, at the then-prevailing rates for an in-state student at _______________________.Neither partys obligation will exceed four academic years and will not extend past such

childs 23

rd

birthday. Each partys obligation will be due only when such child hasmaintained at least a ___ average in any preceding college courses. The reference to thespecific school above is not intended to require that either child attend that school, butmerely to provide a reference for each partys maximum financial obligation for college.

1.14.4. The issue of funding for college is reserved.

1.15. Life Insurance.

1.15.1. Husbands Insurance. The Husband shall provide for the use and benefit of theChildren life insurance on his life of not less than $________ of death benefits. The

Husband will name the Wife as trustee for the use and benefit of the Children and will takeno action to reduce or encumber the death benefits payable under the life insurance policyuntil both Children reach the age of 19, marry, become self-supporting, die, or as otherwiseprovided by law; except that if a child enrolls in college, such obligations will continue untilthe obligation to pay for college terminates. The Husband will provide to the Wife proof ofcontinuing coverage at reasonable intervals. This provision constitutes the Husbands

consent for the release of such information to the Wife if the Husband fails to provide it.

1.15.2. Wifes Insurance. The Wife shall provide for the use and benefit of the Children lifeinsurance on her life of not less than $________ of death benefits. The Wife will name theHusband as trustee for the use and benefit of the Children and will take no action to reduce

or encumber the death benefits payable under the life insurance policy until both Childrenreach the age of 19, marry, become self-supporting, die, or as otherwise provided by law;except that if a child enrolls in college, such obligations will continue until the obligation topay for college terminates. The Wife will provide to the Husband proof of continuingcoverage at reasonable intervals. This provision constitutes the Wifes consent for the

release of such information to the Husband if the Wife fails to provide it.

2. Property.


9/15

2.1. Real Estate.

2.1.1. The parties jointly own real estate located at WAddress1, WCity, WStateWZip (the House). The Husband will convey to the Wife all of his right, title, and interestin the House by quitclaim deed. The Wife will have all rights to the escrow account. The

Wife will be solely responsible for, and will pay, the mortgage debt on the House as itmatures. The Wife will hold the Husband harmless from the mortgage debt on the House.

2.1.2. The parties jointly own real estate located at HAddress1, HCity, HStateHZip (the House). The Wife will convey to the Husband all of her right, title, and interestin the House by quitclaim deed. The Husband will have all rights to the escrow account.The Husband will be solely responsible for, and will pay, the mortgage debt on the Houseas it matures. The Husband will hold the Wife harmless from the mortgage debt on theHouse.

2.1.3. The parties jointly own real estate located at HAddress1, HCity, HState

HZip (the House). The Husband and the Wife will cooperate to sell the House at a priceand on terms that are mutually agreeable. Pending closing of the sale, ___________. Atclosing, the Husband and the Wife will share equally in the net proceeds of the sale, afterpayment of then-current mortgage indebtedness, real estate commission, and other costs ofsale, including without limitation, survey, attorneys fee, and fix-up.

2.1.4. The parties jointly own real estate located at WAddress1, WCity, WStateWZip (the House). The Husband and the Wife will cooperate to sell the House at a priceand on terms that are mutually agreeable. Pending closing of the sale, ___________. Atclosing, the Husband and the Wife will share equally in the net proceeds of the sale, afterpayment of then-current mortgage indebtedness, real estate commission, and other costs of

sale, including without limitation, survey, attorneys fee, and fix-up.

2.1.5. On or before ______________, the Husband will have the Wifes name removedfrom the loan on the House, either by selling the House, refinancing the House, or by othermeans, at no cost to the Wife.

2.1.6. On or before ______________, the Wife will have the Husbands name removedfrom the loan on the House, either by selling the House, refinancing the House, or by othermeans, at no cost to the Husband.

2.2.

Vehicles.2.2.1. The Wife will retain the ______ automobile, which is already owned in her name.The Wife shall be responsible for paying off the balance remaining against said automobileand shall hold the Husband harmless from any liability arising from indebtedness relatedto such automobile.


10/15

2.2.2. The Husband will retain the ______ automobile, which is already owned in hisname. The Husband shall be responsible for paying off the balance remaining against saidautomobile and shall hold the Wife harmless from any liability arising from indebtednessrelated to such automobile.

2.2.3. The _______________ automobile, which is now owned jointly, is awarded to theHusband. The Wife will convey title to the Husband. The Husband shall be responsible forpaying off the balance remaining against said automobile and shall hold the Wife harmlessfrom any liability arising from indebtedness related to such automobile.

2.2.4. The _______________ automobile, which is now owned jointly, is awarded to theWife. The Husband will convey title to the Wife. The Wife shall be responsible for payingoff the balance remaining against said automobile and shall hold the Husband harmlessfrom any liability arising from indebtedness related to such automobile.

2.2.5. The _______________ automobile, which is now owned by the Husband, is awarded

to the Wife. The Husband will convey title to the Wife. The Wife shall be responsible forpaying off the balance remaining against said automobile and shall hold the Husbandharmless from any liability arising from indebtedness related to such automobile.

2.2.6. The _______________ automobile, which is now owned by the Wife, is awarded tothe Husband. The Wife will convey title to the Husband. The Husband shall be responsiblefor paying off the balance remaining against said automobile and shall hold the Wifeharmless from any liability arising from indebtedness related to such automobile.

2.2.7. The Husband will retain the ________ automobile, which is already leased in hisname. The Husband will be responsible for paying off all the lease payments remaining due

on said automobile and shall hold the Wife harmless from any liability arising from leaseobligations and indebtedness related to such automobile.

2.2.8. The Wife will retain the ________ automobile, which is already leased in her name.The Wife will be responsible for paying off all the lease payments remaining due on saidautomobile and shall hold the Husband harmless from any liability arising from leaseobligations and indebtedness related to such automobile.

2.2.9. The Husband will retain the ________ automobile, which is jointly leased. TheHusband will be responsible for paying off all the lease payments remaining due on saidautomobile and shall hold the Wife harmless from any liability arising from lease

obligations and indebtedness related to such automobile.2.2.10. The Wife will retain the ________ automobile, which is jointly leased. The Wife willbe responsible for paying off all the lease payments remaining due on said automobile andshall hold the Husband harmless from any liability arising from lease obligations andindebtedness related to such automobile.


11/15

2.2.11. Each party will retain the vehicle or vehicles already owned or leased in his or hersole name and shall hold the other party harmless from any liability arising fromindebtedness or lease obligations related to such vehicle(s).

2.3. Bank Accounts.

2.3.1. The joint bank account at ______________ is hereby awarded to the Wife. The Wifewill either close this account or have the Husbands name removed from it.

2.3.2. The joint bank account at ______________ is hereby awarded to the Husband. TheHusband will either close this account or have the Wifes name removed from it.

2.3.3. The Husband and the Wife will cooperate to close the joint bank account at___________ and share the proceeds equally.

2.3.4. The parties have already agreed on a division of their remaining bank accounts.

Each party will retain sole ownership in the accounts that bear his or her name.

2.3.5. The parties have already agreed on a division of their bank accounts. Each partywill retain sole ownership in the accounts that bear his or her name.

2.4. Financial Assets.

2.4.1. The Wife is awarded sole ownership of her 401(k) account with WEmployer.

2.4.2. The Wife is awarded sole ownership of her IRA with _______.

2.4.3. The Husband is awarded sole ownership of his 401(k) account with HEmployer.

2.4.4. The Husband is awarded sole ownership of his IRA with _______.

2.4.5. The Husband will assign to the Wife $______ of the amount currently in hisHEmployer 401(k) plan. The Husband and the Wife will enter into a Qualified DomesticRelations Order (QDRO) approved by the appropriate authorities of HEmployer and bythe court.

2.4.6. The Wife will assign to the Husband $______ of the amount currently in her

WEmployer 401(k) plan. The Husband and the Wife will enter into a Qualified DomesticRelations Order (QDRO) approved by the appropriate authorities of WEmployer and bythe court.

2.5. Other Personal Property.

2.5.1. The Husband and the Wife have agreed to an equitable division of their personalproperty.


12/15

2.5.2. The Husband and the Wife have agreed to an equitable division of their personalproperty. The Husband has already removed his property from the House. The Wife willbe entitled to all personal property not otherwise described in this Agreement.

2.5.3. The Husband and the Wife have agreed to an equitable division of their personal

property. The Wife has already removed her property from the House. The Husband willbe entitled to all personal property not otherwise described in this Agreement.

2.5.4. except that the Husband is leaving in the House the following items (the HusbandsRemaining Property). The Husband will remove the Husbands Remaining Property on orbefore _________________.

2.5.5. except that the Wife is leaving in the House the following items (the WifesRemaining Property). The Wife will remove the Wifes Remaining Property on or before

_________________.

2.5.6. All other items of personal or real property currently in the Husbands name orbelonging solely to him (except as specifically described in this Agreement), includingwithout limitation cash, bank accounts, clothing, clothing accessories, jewelry, securities,retirement plans, business interests, partnerships, insurance policies, and books, music, art,tools, equipment, and intellectual property, shall be his sole property, and the Wife herebyrenounces any interest that she may have therein.

2.5.7. All other items of personal or real property currently in the Wifes name orbelonging solely to her (except as specifically described in this Agreement), includingwithout limitation cash, bank accounts, clothing, clothing accessories, jewelry, securities,retirement plans, business interests, partnerships, insurance policies, and books, music, art,

tools, equipment, and intellectual property, shall be her sole property, and the Husbandhereby renounces any interest that he may have therein.

2.5.8. The parties have already agreed to an equitable division of family photographs,videotapes, and keepsakes. Each party agrees to provide reasonable access to the other(after reasonable notice) for copying these documents.

3. Marital Obligations.3.1.1. The Wife will be responsible for the joint Visa account, approximate balance:$_________. The Wife will hold the Husband harmless from any liability arising from

indebtedness related to the said account.3.1.2. The Wife will be responsible for the joint MasterCard account, approximatebalance: $_________. The Wife will hold the Husband harmless from any liability arisingfrom indebtedness related to the said account.


13/15

3.1.3. The Wife will be responsible for the Visa account in her name, approximatebalance: $_________. The Wife will hold the Husband harmless from any liability arisingfrom indebtedness related to the said account.

3.1.4. The Wife will be responsible for the MasterCard account in her name, approximate

balance: $_________. The Wife will hold the Husband harmless from any liability arisingfrom indebtedness related to the said account.

3.1.5. The Husband will be responsible for the joint Visa account, approximate balance:$_________. The Husband will hold the Wife harmless from any liability arising fromindebtedness related to the said account.

3.1.6. The Husband will be responsible for the joint MasterCard account, approximatebalance: $_________. The Husband will hold the Wife harmless from any liability arisingfrom indebtedness related to the said account.

3.1.7. The Husband will be responsible for the Visa account in his name, approximatebalance: $_________. The Husband will hold the Wife harmless from any liability arisingfrom indebtedness related to the said account.

3.1.8. The Husband will be responsible for the MasterCard account in his name,approximate balance: $_________. The Husband will hold the Wife harmless from anyliability arising from indebtedness related to the said account.

3.1.9. The Wife will be responsible for the joint debt owed to ______________,approximate balance: $_______. The Wife will hold the Husband harmless from anyliability arising from said indebtedness.

3.1.10. The Wife will be responsible for the debt owed in her name to ______________,approximate balance: $_______. The Wife will hold the Husband harmless from anyliability arising from said indebtedness.

3.1.11. The Husband will be responsible for the joint debt owed to ______________,approximate balance: $_______. The Husband will hold the Wife harmless from anyliability arising from said indebtedness.

3.1.12. The Husband will be responsible for the debt owed in his name to ______________,approximate balance: $_______. The Husband will hold the Wife harmless from any

liability arising from said indebtedness.3.1.13. Each party will be responsible for the debts incurred in that partys sole name andwill hold the other party harmless from any liability arising from said indebtedness.

4. Alimony.


14/15

4.1.1. The Husband shall pay the Wife as periodic alimony $_____ per month, payable onthe first day of the first full month after the divorce becomes effective and on the first dayof each month thereafter. This payment will continue until _____, or until the Wife dies,remarries, or cohabitates with a person of the opposite sex as defined in Ala. Code. 30-2-55, whichever happens first.

4.1.2. The Wife shall pay the Husband as periodic alimony $_____ per month, payable onthe first day of the first full month after the divorce becomes effective and on the first dayof each month thereafter. This payment will continue until _____, or until the Husbanddies, remarries, or cohabitates with a person of the opposite sex as defined in Ala. Code.30-2-55, whichever happens first.

4.1.3. Both the Husband and the Wife waive any and all right to receive periodic alimony,past, present and future.

5. Miscellaneous.

5.1. Taxes.

5.1.1. Each party will prepare and file separate federal and state tax returns for 2002, ateach partys sole expense. Each party will pay his or her own deficiency, if any, and each

party will retain his or her own refund(s), if any.

5.1.2. The parties will cooperate to prepare and file joint federal and state tax returns for2002. The parties will share equally the cost of preparing such returns. The parties willshare equally any refund received from such returns and will contribute equally to anydeficiency required.

5.1.3. The parties agree that the Wife provided the funds to pay the property taxes andmortgage interest on the House during ExecutionYear and that she is entitled to deductthese expenses on her ExecutionYear income tax return.

5.1.4. The parties agree that the Husband provided the funds to pay the property taxesand mortgage interest on the House during ExecutionYear and that he is entitled todeduct these expenses on his ExecutionYear income tax return.

5.1.5. The parties agree that the funds to pay the property taxes and mortgage interest onthe House during ExecutionYear came from marital funds and that each party is entitled

to deduct half these expenses on his or her ExecutionYear income tax return.

5.1.6. Each party will indemnify the other from any assessment, penalty, interest, or lossarising from any income produced or reported by such party during the marriage, to theextent such assessment, penalty, interest, or loss arises from participation in any joint taxreturn filed by the Husband and the Wife together.


15/15

5.1.7. The Husband will be entitled to claim the Children as dependency exemptions forFederal and State income tax purposes. The Husband and the Wife will cooperate fullywith each other in the execution of all forms and documents necessary to carry out theterms of this section and to comply with applicable rules and regulations. The Husbands

right to claim these dependency exemptions will be contingent on his being in full and

current compliance with all obligations described in this Agreement through December 31of the tax year for which he seeks to claim the exemptions.

5.1.8. The Wife will be entitled to claim the Children as dependency exemptions forFederal and State income tax purposes. The Husband and the Wife will cooperate fullywith each other in the execution of all forms and documents necessary to carry out theterms of this section and to comply with applicable rules and regulations. The Wifes right

to claim these dependency exemptions will be contingent on her being in full and currentcompliance with all obligations described in this Agreement through December 31 of thetax year for which she seeks to claim the exemptions.

5.2. Execution.Each party shall execute any and all documents necessary to effectuate the terms of thisagreement including, but not limited to, deeds, bills of sale, certificates of title, tax forms, real

estate contracts, and the like. If this Agreement requires the Husband or the Wife to accomplish

an act but doesnt state a time limit for completion, the act will be completed within 60 days afterthe divorce is effective.

5.3. Wifes Name.

The Wifes maiden name, WFName WMName WMaidenName, will be restored to her.

5.4. Costs.

5.4.1. Each party shall pay his or her respective attorney, if any. The plaintiff shall paycourt costs.

5.4.2. The parties will share equally the attorneys fee and court costs for filing thisdivorce.

5.5.

No Execution.The parties have not executed this Agreement because it will not be binding until their attorneyshave reviewed it and prepared it for execution.

draft settlement agreement

Documents