Divorce agreement refers to an agreement that states the terms and conditions over which two ex-partners agree while parting their ways after divorce. Generally, during a divorce a lot of issues need to be resolved between the divorcing spouses and divorce agreement does it all for them. It is important for both the parties to agree with the terms and conditions mentioned on the agreement and since it is a legal document no on from the divorcing spouses can disagree to it. Divorce agreements provide a solution to any sort of potential disagreements likely to occur in the future between the ex-spouses. Such disagreements might include child custody issues, fair distribution of assets, spousal support or the child support in case the divorcing spouses have a child together. It is important that both the spouses present their conditions in the agreement so that these issues must be resolved at the time of divorce.
Divorce agreements can be made in a number of various formats depending on the types of issues that needed to be resolved between the divorcing partners. A divorce agreement starts with the names and contact details of both of the divorcing spouses. It also contains the names and number of children they had together, if there are any. Alongside that the details for all the assets that the divorcing spouses had together is listed in the divorce agreement template. Furthermore, the divorce agreement also clarifies about division of those assets between the ex-partners. In case, one of the ex-partners want to keep the asset that is indivisible he/she has to pay the other his/her fair share for the property or in other case the other spouse must approve and legally issue a statement that clearly states that the other partner can keep his/her share of the property. In the end the divorce agreement is signed by both the divorcing spouses.