What is a Divorce Settlement Agreement?
Divorce settlements have the same effect as divorce trial orders.
An agreed divorce settlement agreement is a court order that resolves over 95% of divorce cases in Texas. This order includes some non-negotiable provisions, such as the legal dissolution of the marriage, a name change order (if the female spouse requests it and meets minimum qualifications), and certain warnings and instructions. However, most terms in a divorce settlement agreement are negotiable. More on that below.
A divorce settlement agreement avoids an expensive, uncertain, and emotionally charged trial that no one really wants. As a result, a Ft. Worth family law attorney usually enters a divorce case with a settlement-first mindset. However, not just any divorce settlement agreement will do. Preparing for settlement negotiations is almost exactly like preparing for trial. Assertive and well-prepared negotiators usually get what they want.
Property Distribution
Texas is a presumptive community property state. In most cases, a divorce settlement agreement divides the marital estate, which includes assets and debts, fifty-fifty. However, if that division is not just and right, which is what Texas law requires, a settlement may include a disproportionate division. Some factors to consider include:
- Premarital Agreement: Prenups are increasingly common. Many Millennials grew up as children of divorce, and they don’t want that to happen to their marriages. A recent law made prenups easier to make and enforce, even if they call for a disproportionate property division.
- Future Earning Capacity: Generally, young, healthy, and well-educated people have a large future earning capacity. Among other people, the capacity is lower. In these cases, a disproportionate division is often appropriate, so a divorce isn’t an unfair financial burden on either party.
- Child Custody: These orders often affect property division orders. The family home is a good example. Usually, it’s in the child’s best interests to remain in the family home. If a divorce settlement agreement allows one spouse to keep the house, a Ft. Worth family law attorney usually ensures that the other spouse eventually gets his/her share of the equity.
Incidentally, divorce orders affect the house real estate deed, but not the note. If Linda wants to take Paul’s name off the note, she must normally refinance the house.
Property division orders are usually permanent. Modifications are only an option in limited circumstances. So, it’s important for a lawyer to take it slow and get it right the first time.
Restraining Order
Don’t let this section frighten you. The restraining order usually applies to both parties. It basically directs them to return to their corners and stay there.
Furthermore, unless there is clear evidence of family violence, the restraining order mostly applies to property (e.g., Paul can’t cancel utility service to the house, even if that service is in his name). The restraining order also gives each spouse exclusive title to a vehicle. The title transfer is subject to the limitations discussed above.
Child Custody Provisions
The every-other-weekend/every-other-holiday division works very well for most families. Alternatives are available. Block scheduling is one example. The children spend two weeks with Parent A followed by two weeks with Parent B. Except for minor changes around major holidays, the cycle repeats every two weeks all year long.
Divorce settlement agreements also include child support provisions. Usually, the court applies guideline support amounts. Both child custody and child support orders are subject to future modification.
Incidentally, child custody and child support are separate. If Paul does not pay a dime of child support, he is entitled to visitation per the divorce settlement agreement. If Linda denies visitation, she is violating a court order and essentially holding the children for ransom.
Connect With a Dedicated Tarrant County Attorney
Agreed settlements resolve most divorce cases. For a confidential consultation with an experienced family law attorney in Ft. Worth, contact the Law Office of Kyle Whitaker by calling 817-332-7703 or going online now. Convenient payment plans are available.