Divorce Contract
DIVORCE CONTRACT
This Contract is hereby executed on [date], by [PARTY A], with a residence at [Address of Party A], hereafter referred to as "Party A", and [PARTY B], residing at [Address of Party B], hereinafter referred to as "Party B". Together, they are collectively known as the "Parties".
RECITALS:
WHEREAS, the Parties have chosen to live separately and wish to formally end their marital relationship; and
WHEREAS, the Parties aim to amicably resolve all issues arising from their marriage and subsequent separation, including the division of assets and debts, alimony, and matters related to child custody, visitation, and support;
NOW, THEREFORE, in consideration of the mutual promises contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
ARTICLE 1 - MARITAL STATUS
The Parties acknowledge their legal marriage and mutual decision to live separately, proceeding towards a formal divorce. They commit to completing all necessary legal actions to dissolve their marriage.
ARTICLE 2 - ASSETS AND DEBTS
2.1 Disclosure and Division of Assets and Debts
The Parties affirm that they have fully disclosed their financial situations to each other and agreed upon a fair division of all assets and debts, distinguishing between marital and separate property. They hereby accept this division as final and binding.
2.2 Assumption of Debt Responsibility
Each Party commits to assuming responsibility for their respective debts, agreeing to indemnify and hold the other Party harmless from any liabilities or failures to pay these debts.
ARTICLE 3 - ALIMONY
Party A shall pay Party B alimony in the total sum of $24,000, with monthly payments of $2,000 commencing on April 1, 2050, and continuing until an agreed-upon termination event occurs.
ARTICLE 4 - CHILD CUSTODY, VISITATION, AND SUPPORT
The Parties agree to joint legal custody of their minor child(ren), [Child's Name(s)], ensuring shared decision-making in key areas of the child(ren)'s lives. This collaborative approach emphasizes both parents' involvement in educational, health, and religious decisions.
The custody and visitation arrangements are designed with the child(ren)'s best interests in mind, promoting a stable and nurturing environment. These plans accommodate both parents' schedules and the child(ren)'s needs, facilitating consistent engagement from both parties.
Child support is set following state guidelines, reflecting both Parties' financial situations. This support covers the child(ren)'s healthcare, education, and extracurricular activities, ensuring their comprehensive well-being.
This article underscores the Parties' commitment to their child(ren)'s welfare and their dedication to co-parenting effectively and amicably.
ARTICLE 5 - GENERAL PROVISIONS
5.1 Entire Agreement
This Agreement represents the complete agreement between the Parties concerning the subject matter herein and supersedes all previous discussions, agreements, or understandings. Any modification to this Agreement must be made in writing and signed by both Parties.
5.2 Binding Effect
This Agreement is binding upon and shall benefit both Parties and their respective heirs, executors, administrators, and legal successors.
This Agreement is governed by the laws of the State in which it is executed.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date first above written.
Name: [PARTY A]
Name: [PARTY B]
