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Divorce- - PRE NUPTIAL AGREEMENT

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Divorce- - PRE NUPTIAL AGREEMENT Powered By Docstoc
					                     [Optional Paragraphs (insert after paragraph 8)]
                    [Paragraph __: Provisions Applicable to Divorce]


A. Terms of This Agreement to Control
In the unhappy event that our marriage ends in divorce, as that term is defined in
Paragraph 5 of this agreement, we want to resolve all issues as amicably and efficiently
as possible.
Therefore, if we divorce, we agree to the following:
1. This agreement will control all issues addressed by this agreement.
2. As soon as possible after the case is filed, we will file this agreement (or a true copy
of it) in court and we will sign and file a stipulation acknowledging the validity of this
agreement.
3. Any dispute about the validity or interpretation of this agreement will be separated
from all other issues in the case and submitted to the court for determination before any
issues addressed in this agreement are decided.


      [Optional Clause for Distribution of Marital or Community Property Assets]
[ ] __. Distribution of Separate Property Assets
In any divorce proceeding, our separate property assets will be distributed as follows:
1. Each party's separate property assets, as defined in this agreement, shall be confirmed
to him or her absolutely, without being included in any division of [choose one:
marital/community] property.
[ ] 2. Each jointly owned separate property asset shall be divided between us in
proportion to our respective ownership interests in the asset ("in kind"), if that is possible
without making us co-owners of the same asset after the asset is divided. If an in-kind
division of any asset is not possible, the asset shall be sold and the net proceeds divided
in proportion to our respective ownership interests in the asset.]
                                   [End optional clause]


      [Optional Clause for Distribution of Marital or Community Property Assets]
                                    [Choose one clause:]
                                        [Alternative 1]
[ ] __. Equal Distribution of [choose one: Marital/Community] Property Assets
In any divorce proceeding, except as provided elsewhere in this agreement or in a written
agreement signed by both of us at the time of the divorce, any [choose one:
marital/community] property assets shall be distributed between us in such a way as to
achieve a monetarily equal division of the aggregate net value of the [choose one:
marital/community] property assets. If we so agree, certain assets may be distributed to
one of us in exchange for a distribution of offsetting assets to the other party. Otherwise,
each asset will be divided between us equally ("in kind"), if that is possible without
making us co-owners of the same asset after the asset is divided. If an asset cannot be
divided in kind and there is no agreement to assign the asset to one party, it shall be sold
and the net proceeds divided so as to accomplish an equal division of all the assets. In
determining whether the assets have been equally divided, any asset not sold will be
valued at its fair market value as of the date the assets are divided.
                                     [End Alternative 1]


                                        [Alternative 2]
[ ] __. Equitable Distribution of [choose one: Marital/Community] Property Assets
In any divorce proceeding, except as provided elsewhere in this agreement or in a written
agreement signed by both of us at the time of the divorce, any [choose one:
marital/community] property assets shall be distributed between us in such a way as to
achieve an equitable division of the aggregate net value of the [choose one:
marital/community] property assets, as determined by written agreement signed by both
of us or by the court in the divorce case. If we so agree, certain assets may be distributed
to one of us in exchange for a distribution of offsetting assets to the other. Otherwise,
each asset will be divided between us ("in kind"), if that is possible without our ending up
as co-owners of the same asset after the asset is divided. If an asset cannot be divided in
kind and there is no agreement to assign the asset to one party, it shall be sold and the net
proceeds divided so as to accomplish an equitable division of all the assets. In determining
whether the assets have been equitably divided, any asset not sold will be valued at its fair
market value as of the date the assets are divided.
                                    [End Alternative 2]
                                  [End alternate clauses]
                                   [End optional clause]


                  [Optional Clause for Division of Retirement Benefits]
                                   [Choose one clause:]
                                      [Alternative 1]
[ ] __. Retirement or Employee Benefits to Be Divided—Offset Method
If we divorce, the terms of the divorce decree or judgment shall provide that any [choose
one: marital/community] property interest in retirement, pension, deferred compensation,
stock options, and other employee benefit or tax deferred plans, whether qualified
according to IRS regulations or nonqualified, shall be divided so that the person who
earned the benefits or in whose name those benefits are held receives all of the benefits
and the other person receives other property or funds as an offset in the [choose one:
equal/equitable] division of the [choose one: marital/community] property.
                                    [End Alternate 1]


                                      [Alternative 2]
[ ] __. Retirement or Employee Benefits to Be Divided—In-Kind Method
If we divorce, the terms of the divorce decree or judgment shall provide that any [choose
one: marital/community] property interest in retirement, pension, deferred compensation,
stock options, and other employee benefit or tax deferred plans, whether qualified
according to IRS regulations or nonqualified, shall be divided so that each of us receives
a share of the benefits payable, with each person's share calculated in a manner consistent
with the [choose one: equal/equitable] division of the [choose one: marital/community]
property. Each of us will cooperate in preparing any court order for division of the
benefits required by the plan or as provided by applicable law.
                                    [End Alternative 2]


                                      [Alternative 3]
[ ] __. No Division of Retirement or Employee Benefits
If we divorce, the terms of the divorce decree or judgment shall provide that any [choose
one: marital/community] property interest in retirement, pension, deferred compensation,
stock options, and other employee benefit or tax deferred plans, whether qualified
according to IRS regulations or nonqualified, shall be confirmed to the person who
earned the benefits or in whose name those benefits are vested and shall not be included
in the [choose one: equal/equitable] division of the [choose one: marital/community]
property.
                                   [End Alternative 3]


                                     [Alternative 4]
[ ] __. Retirement or Employee Benefits to Be Divided—Method to Be Determined
If we divorce, the terms of the divorce decree or judgment shall provide that any [choose
one: marital/community] property interest in retirement, pension, deferred compensation,
stock options, and other employee benefit or tax deferred plans, whether qualified
according to IRS regulations or nonqualified, shall be divided in a manner consistent with
the [choose one: equal/equitable] division of the [choose one: marital/community]
property, as determined by a written agreement signed by both of us or by the court in the
divorce case.
                                   [End Alternative 4]
                                 [End alternate clauses]
                                  [End optional clause]


                    [Optional Clause for Division of Specific Assets]
[ ] __. __[Insert Title of Clause, such as Family Residence, Business, or Joint
Securities]__
_____[Insert applicable terms of clause]_____.
                                  [End optional clause]


                   [Optional Clause for Division of Premarital Debts]
[ ] __. Responsibility for Premarital Debts
If we divorce, the terms of the divorce decree or judgment shall provide that any
outstanding premarital debt will be allocated to the person who incurred the debt, and he
or she shall be required to pay the debt and to indemnify and hold the other person
harmless from the debt and all costs related to it.
                                    [End optional clause]


        [ Optional Clause for Responsibility for Debts Incurred During Marriage]
                                    [Choose one clause:]
                                        [Alternative 1]
[ ] __. Equal Responsibility for Debts Incurred During Marriage—General Rule
Except as provided elsewhere in this agreement, if we divorce, the terms of the divorce
decree or judgment shall provide that any outstanding debts incurred by one or both of us
during our marriage will be paid and allocated between us equally, to the extent an equal
allocation is practical, as specifically determined by written agreement signed by both of
us, or by the court in the divorce case. If the allocation is unequal, there shall be a
corresponding offset in the division of our [choose one: marital/community] property
assets, in order to equalize the overall division of assets and debts.
If a debt is allocated to one of us in accordance with this clause, the person to whom it is
allocated shall be required to indemnify and hold the other person harmless from the debt
and all costs related to it.
                                     [End Alternative 1]


                                        [Alternative 2]
[ ] __. Equitable Allocation of Responsibility for Debts Incurred During
Marriage—General Rule
Except as provided elsewhere in this agreement, if we divorce, the terms of the divorce
decree or judgment shall provide that any outstanding debt incurred by one or both of us
during our marriage will be paid and allocated between us equitably, as determined by
written agreement signed by both of us or by the court in the divorce case.
If a debt is allocated to one of us in accordance with this clause, the person to whom it is
allocated shall be required to indemnify and hold the other person harmless from the debt
and all costs related to it.
                                       [End Alternative 2]
                                     [End alternate clauses]
                                      [End optional clause]


                               [Optional Clause for Student Loans]
                                      [Choose one clause:]
                                         [Alternative 1]
[ ] __. Sole Responsibility for Student Loans
If we divorce, the terms of the divorce decree or judgment shall provide that any
outstanding student loan debt will be allocated to the person whose education was
financed by the loan, who shall be required to pay the debt and to indemnify and hold the
other person harmless from the debt and all costs related to it.
                                       [End Alternative 1]


                                         [Alternative 2]
[ ] __. Shared Responsibility for Student Loans
If we divorce, the terms of the divorce decree or judgment shall provide that any
outstanding student loan debt will be allocated between us in the same manner as any
other debts incurred during our marriage for which we are mutually responsible, and not
solely to the person whose education was financed by the loan.
                                     [End alternate clauses]
                                      [End optional clause]


              [Optional Clause for Certain Debts Incurred During Marriage]
[ ] __. Sole Responsibility for Certain Debts Incurred by One Party During
Marriage
If we divorce, the terms of the divorce decree or judgment shall provide that any of the
following outstanding debts incurred by one of us during our marriage will be allocated
solely to the person who incurred the debt: ___[specify debt or type of debt to be
allocated to one spouse, such as one spouse's business debts, any debt incurred without
the knowledge and consent of the other party, or debts related to certain activities]___.
If a debt is allocated to one of us in accordance with this clause, the person to whom it is
allocated shall be required to indemnify and hold the other person harmless from the debt
and all costs related to it.
                                   [End optional clause]


             [Optional Clause for Reimbursement for Debts or Expenses Paid]
                                   [Choose one clause:]
                                       [Alternative 1]
[ ] __. Reimbursement for Debts or Expenses Paid
In any divorce proceeding, each of us will be entitled to reimbursement from the other for
[choose all that apply]:
    [ ] 1.      Payments made during our marriage from separate property funds of one
        of us for premarital debts [optional: including child support or alimony,] owed by
        the other;
    [ ] 2.      One-half of payments made during our marriage from [choose one:
        marital/community] property funds for premarital debts [optional: or child
        support or alimony] owed by the other;
    [ ] 3.      Payments made from separate property funds of one of us for necessary
        expenses incurred by the other in connection with attendance at an accredited
        educational institution (including tuition, fees, books, and supplies [choose one:
        but not including/and] living expenses), whether paid directly or by payments on
        student loans incurred for those expenses;
    [ ] 4.      One-half of payments made during our marriage from [choose one:
        marital/community] property funds for necessary expenses incurred by the other
        in connection with attendance at an accredited educational institution (including
        tuition, fees, books, and supplies [choose one: but not including/and] living
        expenses), whether paid directly or by payments on student loans incurred for
        those expenses;
   [ ] 5.      ___[Insert any additional reimbursements]___;
   [ ] 6.      Any other amounts expressly agreed to be reimbursable as provided
       elsewhere in this agreement.
[ ] Neither of us will be entitled to any reimbursement from the other for paying any
debts or expenses except those listed above, whether paid from separate property funds or
[choose one: marital/community] property funds or both.]
                                   [End Alternative 1]


                                      [Alternative 2]
[ ] __. No Reimbursement for Debts or Expenses Paid
 In any divorce proceeding, neither of us will be entitled to any reimbursement from the
  other for paying debts or expenses of the other during our marriage except as may be
   provided elsewhere in this agreement, whether paid from separate property funds or
                [choose one: marital/community] property funds or both.
                                   [End Alternative 2]
                                 [End alternate clauses]
                                  [End optional clause]


     [Optional Clauses for Alimony (Check State Law for Specific Requirements or
                                      Limitations)]
                                 [Choose all that apply:]
  [Alternative 1 (If Both Spouses Are Waiving Alimony, Include a Separate Clause for
                                          Each)]
[ ] __. Waiver of [choose one: Alimony/___[other term]___] by ___[Name]___
___[Name]___ expects to have sufficient earning capacity, income, and assets to provide
for [choose one: his/her] reasonable needs if we divorce. Therefore, ___[name]___
hereby waives absolutely any and all rights to request [optional: temporary and]
permanent [choose one: alimony/___[other term]___] from ___[name]___ [insert if
applicable: , except in the following limited circumstances only: ___[specify
circumstances—for example, if waiving spouse would be eligible for welfare without
alimony]___]. ___[Name]___ understands that this waiver could later result in a
hardship, and has taken that risk into account in making this waiver.
[end Alternative 1]


[Alternative 2 (Include a Separate Clause for Each Spouse to Whom This Applies)]
[ ] __. Specified [choose one: Alimony/___[other term]___] to ___[Name]___
If we divorce, ___[name]___ shall be entitled to [optional: temporary or] permanent
[choose one: alimony/___[other term]___] payments of [optional: no more than]
$__[amount]__ per month from ___[name]___ [optional: for a period of ___[number of
years or months]___], beginning ___[specify starting point, such as the date when we
stop living together or the date the case is filed]___ and ending absolutely on ___[specify
ending point, such as remarriage, death, or a certain date or number of months or years;
if more than one event or date could end alimony payments, add "whichever occurs first"
after listing the possible ending dates or events ]___. This clause may not be modified
except by a written agreement signed by both of us. ___[Name]___ hereby waives
absolutely any and all rights to request [optional: temporary and] permanent [choose
one: alimony/___[other term]___] from ___[name]___ except as provided in this clause.
___[Name]___ understands that this waiver could later result in a hardship and has taken
that risk into account in making this waiver.
                                    [end Alternative 2]
                                  [End optional clauses]


                           [Other Optional Clause for Divorce]
[ ] __. ___[Insert Title of Clause]___
___[Insert applicable terms of clause]___.
                                  [End optional clause]

				
DOCUMENT INFO
Description: [Optional Paragraphs (insert after paragraph 8)] [Paragraph __: Provisions Applicable to Divorce]- PRE NUPTIAL AGREEMENT
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