Dissolving a marriage can be an arduous and complicated process. Not only do you have to consider child custody and support, but you need to make decisions about your assets, your debts, and your property. However, if your divorce is amicable with you and your ex agreeing on the provisions without the court intervening, a divorce settlement agreement may be your best option. Retaining an attorney is your best option to make the process go smoothly. The Nashville divorce attorneys at Martin Heller Potempa & Sheppard, PLLC can help you reach such a fair compromise. After spending decades working with divorcing couples throughout Tennessee, we strive to make the process of creating marital dissolution agreements or divorce settlement agreements go as smoothly and as quickly as possible.
The Benefits of a Marital Dissolution Agreement
In Tennessee, a marital dissolution agreement, also known as an MDA, contains the necessary information on ending a marriage. The agreement gives the divorcing couple more control over the divorce proceedings. It’s a chance to reach a compromise on many of the issues that can become hotly contested in court.
How your assets, such as vehicles, stocks, retirement funds, etc., will be divided;
How your debts, such as student loans, credit cards, mortgages, etc., will be divided;
And other provisions, such as attorney fees, whether the wife will retain her maiden name, and court costs.
It’s important to remember that an MDA is a contract. Once this agreement is signed and approved by the court, you are expected to comply with the provisions made within it.
When Does a Marital Dissolution Agreement Go into Effect?
Once the marital dissolution agreement or marriage termination agreement is finalized, the parties can then file for dissolution of marriage, and the agreement can take effect.
Can an MDA be Changed?
Once you reach an agreement, is it possible to change or appeal the MDA at a later date? Yes, but only under certain circumstances:
A major life change after the divorce. For example, if you and your ex-spouse had agreed upon alimony in your settlement, but you are getting remarried and do not need alimony anymore. In this instance, your or your former spouse’s request to change the agreement will be approved.
Errors in the legal proceedings. For example, if the court fails to take into account the correct worth of your assets.
The agreement is inequitable. For example, if your former spouse got the house, the cars, and the stocks whereas you only received a retirement plan.
Duress. At the time of the proceedings, one or both spouses were either under duress or did not have the proper mental capacity.
If you do need to change your MDA, it’s best to discuss the situation further with an experienced divorce attorney to see what can be done.
Our Tennessee Marital Settlement Agreement Lawyers are Here to Help
Important decisions regarding your future should be carefully considered, and they may require an outside viewpoint in order to reach a resolution. The marital settlement agreement lawyers at Martin Heller Potempa & Sheppard, PLLC are experienced in helping clients reach satisfactory marital settlement agreements that ensure that their futures stay intact. The decision to seek a divorce is never easy, and even the most amicable divorces need some legal guidance. Our firm is dedicated to making sure that the legal process goes as seamlessly as possible. We offer seasoned and compassionate legal guidance and, if a settlement cannot be reached, will represent you in court.
If you need help constructing a marital dissolution agreement, or cannot come to an agreement with your estranged spouse, contact us to set up an appointment to discuss your options.