All About Divorce Contracts in UAE
Family dynamics can get complicated as the years roll by. While all marriages start great and even with the best of intentions, sometimes things don’t go as planned. When this happens, you have to make a big decision about going separate ways.
What is a Divorce Contract?
Alimony and child support
A divorce contract or divorce settlement agreement is a written document that has different names depending on the country or location.
However, whatever name it is called doesn’t really matter. The aim of a divorce contract is to memorialize any agreement that has been reached between the divorcing spouses with regards to child custody and support, alimony, or spousal support, and division of property.
Divorce is never a simple process to undergo, typically full of emotion, tension and heartbreak. But with 25% to 30 percent of marriages ending in divorce every year, it is safe to say this is not as unusual as you may think, and you are not alone.
Protect Yourself with Marital Contracts
It is essential that you are careful in signing any contract for anything, and more so in a divorce. Once the contract is signed, you become bound by the terms, even if your life changes and it is difficult. Don’t expect to easily wrangle free of any signed contract.
The bottom line is that even if you are stressed, you should go in with a clear mind and the full understanding that you are about signing a contract and will be bound by all of its terms. It is highly likely that both parties will reach a compromise on getting the portion of what they want.
It’s will be unreasonable to expect that you will get all you everything you want and the other party will receive none of what they demand. There are huge costs with signing a contract and having an experienced UAE divorce attorney is crucial to look things over before you commit.
Identify and Divide Assets and Debts
With identifying and dividing assets and debts, the first thing you should acquire is the necessary legal forms from the state court, or justice website. Like any legal agreement, you need to state the names of the full parties involved in the agreement, which in this case is you and your spouse.
You will also include all the relevant details about marriage, which include the date of the marriage, date of separation, names, and ages of children of the marriage, the reason for divorce, and your current living arrangements and addresses and the current situation and location of your children or other assets that you wish to name.
properly identify all sort of assets and debts
Next is to confirm that the terms of the agreement contained in the document have been accepted by both you and your spouse. This acceptance makes the contract legally binding. Next is to properly identify the assets and debts. Some will be joint and others personal or separate.
Generally speaking, things that were owned by a spouse before marriage remains theirs, while whatever is acquired during the marriage with marital funds is the marital property even if the item was used by one spouse. Only marital assets and debts can be divided.
The next is to discuss any agreement you’ll have when it comes to your children. You’ll have to decide who gets sole custody, split custody, or if shared custody is the best for you. The traditional choice often is sole custody, but many divorced are choosing arrangements were the kids leave with both parents.
Lastly, you’ll need to trash out child support and spousal support. Although a child’s right to receive support cannot be signed away, but your own right to receive spousal support can be waived.
5 Things To Make Sure Are Included In Your Divorce Settlement
1. A Detailed Parenting-Time Schedule
Many times clients in a divorce contract want an elaborate parenting-time plan as this will help to prevent parenting-time disputes. A parenting time schedule is crucial to ask for in a divorce settlement and this can include a detailed holiday schedule so the question of fairness or who has a child on a particular holiday always arise.
2. Specifics about support
In many cases, alimony and child support are exchanged by the parties. It is essential for these provisions to be outlined in the divorce contract. This ensures everyone is aware of what their obligations are.
3. Life insurance
If you or your spouse will be responsible for paying child support or alimony, ensure that this includes a provision in your divorce contract that mandates the spouse that is paying life insurance support maintains an amount enough to secure his or her obligation.
4. Retirement accounts and how they will be divided
Ensure you list all of the retirement assets parties own. Make clear in detail how the assets are to be divided and to who a particular asset goes to.
5. A plan for the sale of the house
In a divorce, the home may be sold after it becomes final, or it may be that one party has since moved out. Whatever the case may be, the sale of the home should be detailed so the whole process can move smoothly.
Why You Need An Experienced Divorce Attorney In UAE To Prepare a Divorce Contract
Family Law in the UAE is more than just getting a marriage certificate from the court. It also includes divorce procedure, child custody, and more. This is why it is very important that you hire the right attorney who is experienced in all aspects of divorce laws and contracts.
When it comes to preparing a divorce contract, it is highly recommended to hire an experienced lawyer to prepare the document. However, if your spouse’s attorney has already prepared it, you still have to hire an attorney to review it and make sure all legal provisions are added, corrected, or deleted in order to protect your rights.
Some phrases like “exclusive possession,” “sole legal custody,” “relinquish and waive all future claims,” and “timely indemnify and hold harmless,” means very important things. Only a lawyer can be able to fully understand these terms and their implication in the proposed agreement. They’ll make sure nothing slips so that you don’t end up losing important rights.
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