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Marital Settlement Agreement

Marital settlement agreement is a legal document enforced by the court which sets the terms in the divorce settlement between spouses. The marital settlement agreements can often be confusing when dealing with child custody, loan payments and alimonies. Often questions arise when one does not know the legal ramifications. Read below where Experts have provided answers to questions about marital settlement agreement and its ramifications.

In Florida, what are the different types of alimony?

There are various types of alimony as per the Florida State law but there are 3 main types that are mostly used.

  • Permanent periodic alimony: This type of alimony usually is ongoing and continues until death or remarriage. It’s the most traditional type of alimony.
  • Rehabilitative alimony: In this type of alimony, the payment and period are defined, so that the spouse can make all the necessary adjustments in life. It’s also referred as Bridge Gap alimony.
  • Lump sum alimony: This type of alimony is only used in rare situations. Any type of alimony when paid one lump sum it’s referred as lump sum alimony. It’s also seen as a way of distributing property where the spouse has property but not cash on hand but is used as means of paying alimony all at once.

Many times alimony is subject to change and be modified unless is classified as “non-modifiable “in the divorce decree.

What are the normal procedures when signing the marital settlement agreement?

The marital settlement agreement needs be signed by both the spouses; however they needn’t be together at the time of signing the agreement. One can sign the agreement and send him/her the copy which is signed in presence of two witnesses and notary by both the parties.

How does “cohabitation” affects marital settlement agreement?

Legally, cohabitation is defined as living with another person on a permanent basis. If the divorce settlement has the cohabitation clause under alimonies payment, one can petition the court claiming cohabitation. Depending upon the regularity of the occurrence, the judge may rule it under “cohabitation” and end the alimony.

What are “Epstein credits” under Marital Settlement agreement?

The “Epstein credits” are ways of making reimbursement claims against the community property to pay community with separate assets. The waivers mean that agreeing party or parties are giving up the right to reimbursement. It’s a commonly used phrase under California Family law.

What is the impact of the financial misrepresentations in the marital settlement agreement?

In most cases, one has to return to court and try to amend the decree and settlement, if the misrepresentations are discovered by the attorney using deposition, interrogatories, production of documents and other tools of discovery, the legitimate recourse is to plead the court with help of a lawyer and suggest changing the beneficiary.

Marital settlement agreement is the legal document which the spouses agree during the course of divorce in presence of court. The marital settlement can affect child custody, education, mortgage and other financial obligations. The Marital settlement needs to be properly understood by both the parties and recourse must be taken in case of any misrepresentations. If you have any questions on marital settlement agreement, you could ask Experts for answers.
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