When going through a divorce in Ontario, it is important for both parties to come to a settlement agreement that is fair and comprehensive. A divorce settlement agreement outlines the terms and conditions of the divorce, including property division, child custody, and support payments.
To help you understand what a divorce settlement agreement in Ontario should look like, we’ve put together a sample agreement that you can use as a starting point.
First, the agreement should clearly state both parties’ personal information, including their full names, addresses, and contact information. It should also state the date of the marriage and the date of separation.
Next, the agreement should outline the division of property and debt. This includes all assets and liabilities acquired during the marriage, such as houses, cars, bank accounts, and credit card debt. The agreement should specify who gets what assets and who is responsible for which debts.
If there are children involved, the agreement should also address child custody, access, and support. This includes deciding on a parenting schedule, who will have primary custody, and how much child support will be paid. The agreement should also include provisions for special expenses, such as extracurricular activities, school fees, and medical costs.
In addition, if one party is entitled to spousal support, the agreement should specify the amount, duration, and frequency of payments.
Finally, the agreement should include any other miscellaneous provisions, such as confidentiality clauses, non-disparagement clauses, and how disputes will be resolved.
It is important to note that this sample agreement is just a starting point, and that each divorce settlement agreement will look different depending on the unique circumstances of the parties involved. It is also recommended that you consult with a lawyer experienced in family law to ensure that your agreement is fair, legally binding, and meets all of the necessary requirements in Ontario.
In conclusion, a divorce settlement agreement is a crucial part of any divorce in Ontario. It outlines the terms and conditions of the divorce, and ensures that both parties are protected and are aware of their rights and obligations. With this sample agreement as a guide, you can start the process of drafting your own agreement and move forward with the divorce with confidence.