What is a Fair Settlement Agreement?
What constitutes a “fair” marital settlement agreement is a headline that has recently been blasted across media circuits. Most recently, Tom Cruise has been accused of getting out of his divorce easily, since his ex-wife Katie Holmes will “only” receive a stated $400,000 for child support. The comparison has been made to his $250 million fortune.
What the media has failed to cover is that this amount is what Holmes felt was suitable for her daughter Suri’s annual needs. In addition, we still don’t know details of how other expenses will be covered, such as medical coverage or a college education. The sensationalism of the dollar amount has overlooked other components of the divorce, such as Holmes being the primary caretaker and the restrictions she has placed on Suri’s exposure to Scientology, Cruise’s religion.
A marital settlement agreement is not just about a lump sum of money for child support. A properly prepared marital settlement agreement also covers several other areas, including: involvement of grandparents in the children’s lives, division of the residential home and other assets and debts, family business and even the household pets. It’s rare for an individual in a divorce to get everything s/he wants; a marital settlement agreement is a compromise between both parties. The agreement should be fair and reasonable, and ensures that both parties will have a more certain future with clearly written conditions.
Also, when a divorced couple has a signed settlement agreement between them, it allows them to save time and money and stress, because they do not have to battle out their disagreements in front of a judge. For example, Grammy Award winning R&B singer, Usher Raymond IV, fought for over a year and a half to win primary child custody. Tameka Foster Raymond, Usher’s ex-wife, now suffers the result of not working out an agreement under more amicable conditions, such as shared custody, but is also dealing with the recent death of her son Kile.
Tempers can flare and emotions tend to run high during a divorce. It’s in the best interest of the divorcing couple to find healthy ways to channel their emotions and quickly move towards a marital settlement agreement. Some of the odd items fought over in divorces include: David Hasslehoff wanting his golf-cart back, Kris Humphries fighting for the engagement ring from Kim Kardashian, and Beth Shack battling it out over 1,200 pairs of designer shoes.
Michael Douglas has battled with ex-spouse Diandra Douglas about intellectual property rights to Wall Street: Money Never Sleeps. The coupled reportedly have been fighting over this for fourteen years. Do you want to spend a considerable amount of our future fighting out matters because you didn’t write it up in a marital settlement agreement?
Once you’re ready to file for an uncontested divorce and/or martial settlement agreement contact No Contest Divorce Law, LLC for a free consultation at 215-398-6760.
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