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Drafting Considerations for Marital Settlement Agreements
When drafting marital settlement agreements, there are many considerations to be made as to the myriad provisions contained therein. Often, however, these vital components can be inadvertently overlooked, particularly during the rush of a mediation when parties, and their attorneys, are in a hurry to have an agreement signed before one party changes his or her mind after hours of settlement negotiations. In order to ensure that important provisions are incorporated into every marital settlement agreement, mediated or not, it is advisable to consider the following prior to finalizing any agreement.
Parenting Plan
Whether incorporated into a marital settlement agreement or set forth in a separate agreement, a parenting plan is essential to any divorce in which minor children are involved. Parenting provisions that should be addressed include shared decision-making, and whether only one party will have ultimate decision-making authority on certain major issues affecting the welfare and lifestyle of the minor children. In matters where parties are unlikely to be able to engage effectively in shared parenting, ultimate decision-making authority may save the parties from costly litigation over issues such as where the minor children will attend school and whether a certain course of medical treatment is appropriate. Provisions related to cooperation between the parties, and maintaining and encouraging relationships among the minor children and each parent are also crucial, particularly when one parent is acting in a way that is not in these children's best interests, or is damaging to one party's relationship with them.
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