Arkansas Marital Settlement Agreement (Minor Children)

Arkansas
Marital Settlement Agreement (Minor Children) Marital Settlement Agreement (Minor Children)

About this Form:  This is a marital settlement agreement that may accompany the No-Fault Divorce form for use within the State of Arkansas. This agreement is intended to help the parties formalize an allocation of their property and finances and matters relating to child custody and visitation. Most courts will require a marital settlement agreement filed in conjunction with a COMPLAINT FOR DIVORCE within the State of Arkansas.

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MARITAL SETTLEMENT AGREEMENT

 

AGREEMENT made on this ____________ day of ___________________, 20_____, by and between _____________________________________ (hereinafter referred to as "Wife"), who resides at ______________________________________________________________ [insert full residential address of Wife] and _____________________________________ (hereinafter referred to as "Husband"), who resides at ______________________________________________________________ [insert full residential address of Husband].

 

WHEREAS, we were married on the ___________ day of _____________________, _______, in  _________________________, State of _________________________, and we now mutually desire to dissolve our marriage and mutually agree to live permanently separate and apart from each other, as if we were single;

 

WHEREAS, we each have exercised good faith and have made fair, accurate, and complete disclosure to each other regarding all financial and property matters pertaining to this marital settlement agreement;

 

WHEREAS, we mutually desire to settle by agreement all matters regarding our marital affairs, child custody and visitation, personal and real property, and finances;

 

WHEREAS, we mutually intend this agreement to be a final disposition regarding the marital issues addressed herein and intend that this agreement be incorporated into any subsequent DECREE OF DIVORCE .

 

THEREFORE, in exchange for the mutual promises herein contained, we agree to live separately and to divide our property and finances according to the following mutually agreed upon terms and conditions:

 

1.  CHILDREN

Husband and Wife have the following child(ren) born or adopted into their marriage:

Name: ____________________________________ Date of Birth: __________________
Name: ____________________________________ Date of Birth: __________________
Name: ____________________________________ Date of Birth: __________________
Name: ____________________________________ Date of Birth: __________________

A.  CUSTODY

To settle all issues in relation to custody in a manner consistent with the best interest of the child(ren), Husband and Wife agree as follows:

Husband shall have sole custody of ______________________________________  ____________________________________________________________________.

 

Wife shall have sole custody of __________________________________________ ____________________________________________________________________.

 

Husband and Wife shall have joint custody of _______________________________ ____________________________________________________________________.

 

B. VISITATION
 
To settle all issues in relation to the visitation rights in a manner consistent with the best interest of the child(ren), Husband and Wife agree as follows:
 
    1)   Husband shall have the following rights of visitation:

Weekends:
Husband shall have visitation rights on the following days and times [choose one:] ______ each weekend OR ______ every other weekend:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Weekdays:
Husband shall have visitation rights on the following days and times during [choose one:] ______ each week OR ______ every other week:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Yearly Vacation:
Husband shall have visitation rights for the following vacation periods each year:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Holidays (Even-Numbered Years):
Husband shall have visitation rights for the following holidays during even-numbered years:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Holidays (Odd-Numbered Years):
Husband shall have visitation rights for the following holidays during odd-numbered years:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Other Visitation Rights:
Husband shall have the following additional visitation rights:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________ ____________________________________________________________________.

    2)   Wife shall have the following rights of visitation:

Weekends:
Wife shall have visitation rights on the following days and times [choose one:] ______ each weekend OR ______ every other weekend:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Weekdays:
Wife shall have visitation rights on the following days and times during [choose one:] ______ each week OR ______ every other week:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Yearly Vacation:
Wife shall have visitation rights for the following vacation periods each year:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Holidays (Even-Numbered Years):
Wife shall have visitation rights for the following holidays during even-numbered years:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Holidays (Odd-Numbered Years):
Wife shall have visitation rights for the following holidays during odd-numbered years:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

Other Visitation Rights:
Wife shall have the following additional visitation rights:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________ ____________________________________________________________________.

 

2.  REAL ESTATE

A.  RESIDENCE

 

Husband shall reside at _________________________________________________  ____________________________________________________________________.

 

Wife shall reside at_____________________________________________________ ____________________________________________________________________.

 

B. HOMESTEAD

 

Husband and Wife own the following real property as their family residence, located at ____________________________________________________________________

____________________________________________________________________.

 

Husband and Wife agree that ____________________________ shall continue to reside at the above mentioned family residence.

 

Rights, responsibilities and expenses regarding the above mentioned family residence shall be distributed as follows:

 

1)       Title:

Husband shall have the following rights of title and ownership in the family residence: _____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

Wife shall have the following rights of title and ownership in the family residence:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

2)       Expenses, Mortgage and Maintenance:

Husband shall be responsible for and pay the following expenses regarding the family residence:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

Wife shall be responsible for and pay the following expenses regarding the family residence:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

C.  OTHER REAL ESTATE

 

Husband and Wife jointly own the following other real estate to be divided as follows:

 

1)  To Husband:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

2)       To Wife:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

3. PERSONAL PROPERTY

A. HOUSEHOLD GOODS

Husband and Wife jointly own the following household goods to be divided as follows:

 

1) To Husband:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

2) To Wife:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

B. AUTOMOBILES

Husband and Wife jointly own the following automobiles to be divided as follows:

 

1) To Husband:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

2) To Wife:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

 

C. OTHER PERSONAL PROPERTY

Husband and Wife own the following other personal property to be divided as follows:

 

1) To Husband:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

2) To Wife:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

 

4. BANK ACCOUNTS

Husband and Wife jointly hold the following bank accounts:

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

The above mentioned accounts shall be divided as follows:

 

1) To Husband:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

 

 

2) To Wife:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

5. DEBTS

Husband and Wife jointly hold the following debts outstanding:

 

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

________________________________________ (Account Number)

________________________________________ (Account Balance)

 

________________________________________

________________________________________

________________________________________

________________________________________

(Name and Address of Institution)

 

The above mentioned debts shall be divided as follows:

 

1) Husband agrees to pay and assume all responsibility for the following debts: _____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

 

 

2) Wife agrees to pay and assume all responsibility for the following debts: _____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

Husband and Wife agree that from the date of this agreement, neither shall assume any joint debt or liability.  Husband and Wife agree that each shall be individually responsible for all debts that he or she acquires subsequent to the date of this agreement.

 

6. TAX LIABILITY

A.  Husband and Wife agree that any joint tax liability shall be assumed as follows:

 

1) By Husband:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

2) By Wife:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

B.  The custodial parent shall have the sole right to claim as a dependent for state and federal income tax purposes any child over which he or she has custody.  In the event of joint custody, the Husband and Wife agree as follows with respect to who shall hold this right:

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________.

 

7.  LIFE INSURANCE

 

A.  Husband owns the following life insurance policies naming Wife as beneficiary:

 

___________________________________ (Policy Number)

___________________________________ (Policy Amount)

 

___________________________________

___________________________________

___________________________________

___________________________________

(Name and Address of Institution)

 

 

___________________________________ (Policy Number)

___________________________________ (Policy Amount)

 

___________________________________

___________________________________

___________________________________

___________________________________

(Name and Address of Institution)

 

___________________________________ (Policy Number)

___________________________________ (Policy Amount)

 

___________________________________

___________________________________

___________________________________

___________________________________

(Name and Address of Institution)

 

Husband agrees that Wife [check one:]  _________shall, or _________shall not remain the beneficiary of the following life insurance policies:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

B.  Wife owns the following life insurance policies naming Husband as beneficiary:

 

___________________________________ (Policy Number)

___________________________________ (Policy Amount)

 

___________________________________

___________________________________

___________________________________

___________________________________

(Name and Address of Institution)

 

 

___________________________________ (Policy Number)

___________________________________ (Policy Amount)

 

___________________________________

___________________________________

___________________________________

___________________________________

(Name and Address of Institution)

 

___________________________________ (Policy Number)

___________________________________ (Policy Amount)

 

___________________________________

___________________________________

___________________________________

___________________________________

(Name and Address of Institution)

 

Wife agrees that Husband [check one:]  _________shall, or _________shall not remain the beneficiary of the following life insurance policies:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

8. HEALTH INSURANCE

Husband and Wife agree as follows in relation to their respective health care coverage:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________

 

9.  SPOUSAL SUPPORT

A.  Husband shall pay to Wife spousal support in the sum of _____________________________ dollars ($______), _________________________ [specify "weekly" or "monthly"], beginning on the ____________ day of __________________, 20 ____.  Husband shall continue to pay this sum for a period of ________________________, subject to the following mutually agreed upon conditions:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________.

 

B.  Wife shall pay to Husband spousal support in the sum of  _____________________________ dollars ($______), _________________________ [specify "weekly" or "monthly"], beginning on the ____________ day of __________________, 20 ____.  Wife shall continue to pay this sum for a period of ________________________, subject to the following mutually agreed upon conditions:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________.

 

10.  CHILD SUPPORT

A.  Husband shall pay to Wife child support in the sum of _____________________________ dollars ($______) per child, _________________________ [specify "weekly" or "monthly"], beginning on the ____________ day of __________________, 20 ____.  Husband shall continue to pay this sum for a period of ________________________ or until the child reaches the age of majority, becomes self-supporting, marries, or dies, subject to the following mutually agreed upon conditions:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________.

 

B.  Wife shall pay to Husband child support in the sum of  _____________________________ dollars ($______) per child, _________________________ [specify "weekly" or "monthly"], beginning on the ____________ day of __________________, 20 ____.  Wife shall continue to pay this sum for a period of ________________________ or until the child reaches the age of majority, becomes self-supporting, marries, or dies, subject to the following mutually agreed upon conditions:

_____________________________________________________________________________
_____________________________________________________________________________

_____________________________________________________________________________.

 

C.  All payments of child support pursuant to this agreement shall be made and delivered in the following manner: [choose one:] _______ All payments of child support shall be paid directly through the appropriate state agency, official, or court designated by the laws of the State of Arkansas to receive and disburse such child support payments, or _______ All payments of child support shall be made directly to the parent to whom the child support payments are due; however, the parent to whom payments are due reserves the right to require, upon written notice to the paying parent, such child support payments to be paid directly to the appropriate state agency, official, or court designated by the laws of the State of Arkansas to receive and disburse such child support payments.

 

D.  In the event the obligated parent's income increases, the amount of child support shall be increased proportionately, and such increase shall be computed effective the date of the increase.

 

E.  As additional child support, the obligated parent shall maintain medical and dental insurance on behalf of each child and shall pay any medical expenses not covered by said insurance.

 

F.  As additional child support, the obligated parent [choose one:]  _______ shall  or   _______ shall not  pay one-half of the amount needed for each child's college education.

 

11. LEGAL NAME

Husband and Wife agree that upon the court's ordering a DECREE OF DIVORCE , Wife shall have the right to retain her married name or shall also have the right to return to her maiden or former name: _________________________________ [insert Wife's maiden name].

 

12.  FINAL AGREEMENT

This agreement sets forth the entire agreement and understanding between the Husband and Wife relating to the settlement of martial property and finances and supersedes all prior discussions between us.  No modification of or amendment to this agreement, nor any waiver of any rights under this agreement, will be effective unless in writing signed by the party to be charged.

 

13.  ACKNOWLEDGEMENT

Husband and Wife acknowledge that each has entered into this agreement in good faith, without any duress or undue influence.  Each understands his or her right to seek independent counsel regarding this agreement, and each has had the opportunity to seek independent counsel prior to signing this agreement.

 

14.  CHOICE OF LAW

Husband and Wife agree that this agreement shall be governed and construed in accordance with the laws of the State of Arkansas.

 

Signed and dated this __________ day of _______________________, 20_____.

 

 

 

________________________________                   ________________________________

Wife                                                                     Husband

 

 

 

________________________________                   ________________________________

Witness #1 for Wife                                               Witness #1 for Husband

 

 

 

________________________________                   ________________________________

Witness #2 for Wife                                               Witness #2 for Husband

CERTIFICATE OF ACKNOWLEDGMENT OF NOTARY PUBLIC STATE OF ARKANSAS COUNTY OF ________________ This document was acknowledged before me on _______________ [Date] by ________________________________________________ [name of principal].
[Notary Seal, if any]:	_______________________________ (Signature of Notarial Officer) Notary Public for the State of Arkansas My commission expires: ___________________

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