Arizona Marital Settlement Agreements: 6 Things to Consider (Pt. 2)
Resuming Arizona Marital Settlement Agreements: 6 Things to Consider (Pt. 1), here are some more considerations to keep in mind if you are thinking about developing an MSA to end your marriage (instead of going through the traditional divorce process in court).Arizona Marital Settlement Agreements: More Things to Consider3 – How to Divide up the Marital Debt
Just as Arizona martial settlement agreements should stipulate how the marital property will be divided, they should also specify who will be responsible for which of the remaining marital debts after the divorce has been finalized (that is, of course, if the couple has marital debt).
When it comes to dividing up the marital debt in Arizona martial settlement agreements, it’s important to remember that:
- Debts like student loans won’t qualify as marital debts.
- Having an experienced attorney help you with the division of your marital debt can be critical to protecting your interests and ensuring that you don’t inadvertently agree to something that could end up financially harming you in the future.
- Even if your ex accepts responsibility for all of the marital debt in your MSA, legally, you are still responsible for repayment if your ex stops paying on this debt in the future.
If you and your ex share children, then detailing the terms of your child custody agreement in your MSA will be another important thing to do. As you develop the custody terms for your marital settlement agreement, it’s strongly advised that you consider the following:
- Whether joint custody is currently feasible and in the best interests of your children
- The logistics of exchanging the child, the child having two homes, etc.
- The other details of your parenting plan.
With Arizona martial settlement agreements and child custody provisions, we also want to point out that:
- Like custody provisions in final divorce decrees, these provisions in Arizona martial settlement agreements can be altered in the future when the circumstances of either parent may change.
- Given that child custody is among the more hot-button issues in divorce, should this lead to contentious disputes as you try to work out an MSA, the family court will typically have to step in to resolve the dispute.
Be sure to check out the upcoming conclusion to this blog series for some more important info about Arizona marital settlement agreements.Scottsdale Divorce Attorney at the Law Office of Karen A. Schoenau
Do you need help working out a marital settlement agreement or resolving a divorce? If so, you can rely on Scottsdale Divorce Attorney Karen Schoenau for honest answers, effective representation and the best possible outcomes to your case. Since 1987, Karen Schoenau has been committed to helping people resolve their important family law matters, including complex cases related to divorce, custody, paternity and other issues.Contact us Today
To receive professional advice and learn more about how we can help you, schedule an initial consultation with Attorney Karen Schoenau. You can set up this meeting by calling 480-209-1918 or by emailing us using the drop-down contact form at the top of this page.
From her offices based on Scottsdale, Attorney Karen Schoenau represents clients throughout the metropolitan Scottsdale area, including in Scottsdale, Mesa, Surprise, Maricopa County, Pinal County, Gila County and throughout the state of Arizona.