When ending your marriage, working out a marital settlement agreement can be an alternative to proceeding through the traditional court divorce process if you and your former partner can work with each other moving forward.
While Arizona marital settlement agreements (MSAs) can end up producing more favorable outcomes than traditional divorce, it’s important for divorcing spouses to realize that:
- These MSAs will be legally binding once their divorce is finalized.
- Arizona marital settlement agreements can generate as much contention as traditional divorce.
- Incorporating all necessary factors into Arizona marital settlement agreements will be crucial to successfully resolving a divorce case.
Given the fact that there can be a lot ambiguity regarding MSAs, in this three-part blog series, we will point out the most important factors to consider, keep in mind and address with Arizona marital settlement agreements. If you are ready to get some experienced help developing an MSA or proceeding with your divorce, however, don’t hesitate to contact Scottsdale Divorce Attorney Karen A. Schoenau.
Arizona Marital Settlement Agreements: Here’s What They Should Cover
1 – How to Split the Marital Property
As with the traditional divorce process, with Arizona marital settlement agreements, you and your ex will need to detail how your shared or joint property will be divided between the two of you. While this may be relatively easy if you and your ex weren’t married for that long, you have a prenup in place and/or you generally agree on how to divide your marital property, it can get more difficult when discussions regarding your shared home (or other such precious assets) arise.
In such cases, Arizona marital settlement agreements can include provisions that:
- Grant one party the home (or another disputed asset) while the other party gets some other joint property.
- Require one party to buy the other out of his or her investment in the home.
2 – Whether There Will Be Persisting Insurance Coverage
If you and your ex are covered on each other’s various insurance policies, than specifying what – if any – coverage will persist after the divorce process will be another important element to include in 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.
To receive professional advice and learn more about how we can help you, schedule an initial consultation with Attorney Karen Schoenau of the Law Office of Karen A. Schoenau. You can set up this meeting by calling 480-467-3435 or by emailing us using the drop-down contact form at the top of this page.
From her offices based in Scottsdale, Attorney Karen Schoenau represents clients throughout the metropolitan Scottsdale area, including Scottsdale, Mesa, Surprise, Maricopa County, Pinal County, Gila County and throughout the state of Arizona.