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Is Your Divorce Agreement Legally Binding?

Is Your Divorce Agreement Legally Binding?


I’m gonna try to explain something that
I don’t think most people really understand in terms of the legally
binding agreements that are in existence when you get divorced. Your divorce
agreement once it’s stamped by the courts is a legally binding document
between you and your spouse. That means that anything you need to abide by all
the rules in the agreement if you’re supposed to be paying support you need
to pay the support and the same for your spouse if they are required
by the divorce agreement to pay support they are required by law to pay support
so it’s a legally binding agreement. Say you both own a house and you have a
mortgage on the house and the house is owned jointly but, in your divorce
agreement you agree that since you’re gonna live in the house you’re gonna pay
the mortgage. Now you remain jointly on the mortgage but you agree to pay the
mortgage. Let’s say you run on hard times and you can’t afford the mortgage
anymore. Even though your divorce decree says you’re going to be responsible for
it, the fact that your spouse’s name is still on that makes him or her still
legally responsible for that debt because that agreement is between you
and your spouse and the bank. The point I’m trying to make here is that there
are legal agreements that you may have made or your spouse may have made or
that anyone has made with a third party that even though your divorce decree
says certain things, that divorce decree under the law may or may not supersede
other creditors who are coming after the other party. It’s a little bit
complicated but I just want to make sure that you talk to your lawyer about those
kinds of things that you really understand when you’re signing the
document, if something goes south in this agreement if things don’t go as planned
people don’t pay if if companies go bankrupt if the payor loses his or her
job and because they’ve committed some sort
of illegal act – whatever the consequence is, you want to make sure that there’s
something that you have provided for for yourself to make sure that you still get
those payments if it’s possible or that you have a some sort of backstop just
in case something like that happens, if you anticipate that it is a possibility.
If you want to try to get a little more clarity on this issue or any of the
larger issues as you put your settlement forward please schedule a clarity
session with me.

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