The Divorce Settlement
How your assets and debts will be divided in your divorce.
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Your Name:

 
In a Friendly Divorce, the "Grounds" for getting divorced will  be listed as "irreconcilable differences."  (In other words, you both are just too different, and you need a divorce because of it). 

Do you agree that we can list the reason on your divorce decree as irreconcilable differences?

In a contested divorce, parties often list things like adultery, cruelty, felony convictions or abandonment as the basis for getting a divorce.  This is not needed in an AGREED divorce.
     
 
Please list all separate assets of Wife, to be confirmed as wife's in the decree

"separate assets" means anything that wife owned prior to marriage, or that Wife received by gift or inheritance during the marriage.
 
Please list all separate assets of Husband, to be confirmed as Husband's in the decree

"separate assets" means anything that husband owned prior to marriage, or that husband received by gift or inheritance during the marriage.
 
Click on all of the types of things WIFE is going to get in this divorce:


 
Click on all of the types of things HUSBAND is going to get in this divorce:


 
Do husband and/or wife own 1 or more homes that were bought DURING the marriage?

     
 
List the ADDRESS for ONE piece of real estate that either husband or wife (or both) own that was purchased during the marriage:

 
What will happen with the title to this property?


 
Does this property have a mortgage?

     
 
How will the mortgage be handled?


 
Who has the right to live in this property after the divorce?

 
Do husband and/or wife own any more homes that were bought during the marriage?

     
 
What is the address of this second property?

 
What will happen with the title to this property?


 
Does this property have a mortgage?

     
 
How will the mortgage be handled?


 
Who has the right to live in this property after the divorce?

 
Do either husband or wife own any more properties that were purchased during the marriage?

     
 
Please describe all remaining marital properties.  Please state who will receive the title, mortgage, etc as previously asked about the other two properties.

 
List all bank accounts that are in both husband and wife's name and how they will be split in this divorce.

example:
1 checking account with USAA (50/50 split)
1 savings account with Wells Fargo (award to husband solely)
 
List the Bank Accounts Husband is going to get in this divorce.

example:
1 checking account with USAA
1 savings account with Wells Fargo
(no need to list the account if you listed it in the previous section)
 
List the Bank Accounts Wife is going to get in this divorce.

example:
1 checking account with USAA
1 savings account with Wells Fargo
 
List all brokerage accounts, stocks, bonds or mutual funds HUSBAND will get in this divorce.

 
List all brokerage accounts, stocks, bonds or mutual funds WIFE will get in this divorce.

 
List the retirement accounts to be given to HUSBAND in this divorce.

examples:
401K with USAA
personal IRA
 
List the retirement accounts to be given to WIFE in this divorce.

examples:
401K with USAA
personal IRA
 
List any retirement account that the parties will split in this divorce.

Example Answer:  Husband will get 50% of his USAA 401K and Wife will get 50%. 
Example Answer 2:  Wife will get any portion of the military retirement she has a right to.

*Additional charges will apply to your case if you need retirement accounts split in your divorce.
 
List any life insurance policy to be given to HUSBAND in this divorce.

 
List any life insurance policy to be given to Wife  in this divorce.

 
List any other type of financial asset to be given to WIFE not otherwise mentioned above (health savings accounts, annuities, bonuses, government benefits).

 
List any other type of financial asset to be given to HUSBAND not otherwise mentioned above (health savings accounts, annuities, bonuses, government benefits).

 
For each Vehicle/boat/plane purchased DURING the marriage, which either party owns tell us:
1) The model, make, and year of the vehicle?
2) Which party owns the vehicle title?
3)  Which party is on the vehicle loan?
4) What is the financing company on the vehicle loan?
5) Who gets to keep the vehicle?
6) Who has to pay the loan?


If both parties are on the loan, it is recommended that the Husband or Wife keeping the vehicle will refinance the loan in his name alone.  OR, if a party cannot refinance the car alone, it is recommended that the parties sell the vehicle.

Make sure to answer all 5 questions for EACH vehicle purchased during the marriage.
 
List any businesses owned by either husband or wife, and state which party will receive the business interest in this marriage.

 
You can choose to list personal items specifically, such as jewelry, furniture, firearms, electronics. 

Or, you can skip listing the items and have a general rule that the spouse in possession of the item will keep it in this divorce.

Do you wish to list personal items for husband/wife in your decree?

You SHOULD list any personal items specifically in the decree that could become an argument later.  If it is unclear who should get the wedding ring or art collection, it is highly advised that we specifically state who gets it in the decree.

***Most people do not list specific furniture or personal items in their decree as they already know who is getting what, and are sure there will not be any issues about this***
     
 
Please list and describe all personal items to be awarded to Husband.

 
Please list and describe all personal items to be awarded to Wife.

 
Will Husband or Wife be paying alimony (spousal maintenance) to the other in this divorce?

Spousal maintenance is a monthly amount that a spouse can pay to the other spouse for a certain number of months/years to help that spouse transition to being single.  It is generally not awarded in Texas, unless the parties have been married 10 years or more, and unless one spouse cannot afford to continue living without some help from the other spouse.
     
 
State the name and type of any family pet, and which spouse is to receive the pet in this divorce

example: Dog, Lab- Apollo to HUSBAND
 
Who will pay the spousal maintenance?  How much will be paid monthly and for how many months?

 
Tell us any other agreements the parties wish to see in this divorce pertaining to assets?

Your'e Almost done!

 
We can divorce you without knowing the details of your debts, but WE HIGHLY recommend that you tell us all of the information we are asking for to help protect you.

We also recommend that you get a copy of your spouse's credit report, so that you can make sure that all of his/her debts is assigned to him or her. *

Unless we list each debt of the marriage, whether in your spouse's name or your name, you will have no way to enforce your decree later as a contract regarding those debts.
     
 
List all joint credit cards that are in both husband and wife's name.

The parties will be ordered to cease using any joint credit cards moving forward. Let us know if the parties wish to have a different agreement on the last question of this packet.

Example answer:  USAA card ending in 443
 
List all credit cards which wife will keep and be responsible to pay.

example answer:  USAA card ending in 2971
 
List any credit cards or loans which are under Husband or Wife's name alone, but the OTHER spouse is responsible to pay.

Only answer this if there is a situation where one spouse incurred a debt on his/her card, but the other spouse has offered to pay it as a part of this divorce settlement.
 
List all credit cards which Husband will keep and be responsible to pay.

example answer:  USAA card ending in 2971
 
What tax liability or debt does either party have?

 
In the year that you are divorced, you cannot file joint taxes.  In the year of your divorce, you will need to file an individual tax return. 

For any previous years of your marriage, should the parties be jointly responsible for outstanding IRS debt or individually responsible for their own earnings and tax filings?

Thank you!  As soon as you click Submit, we will receive this.
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