Negotiating a Settlement Agreement
Discussions with your attorney are beneficial in reaching a settlement agreement. Your legal counsel can advise you about the benefits of such an agreement, how property is likely to be distributed should the action go to trial and relevant issues relating to child support, spousal support and custody.
Additionally, it is important to have a full understanding of your own economic situation. Gather information regarding your assets, income, expenditures and debt and review it carefully. Additionally, an understanding of your spouse’s finances will help you formulate a better idea as to the terms of an agreement. A settlement agreement should be fair to both parties, therefor each spouse will necessarily concede on certain issues in order to benefit from others. In this regard it is important to have a clear idea of what you really need. For example, you may be willing to negotiate the amount of support in order to maintain control of certain assets.
A clear understanding of your children’s needs is imperative in considering custody issues. In determining custody and visitation the court will most likely consider the best interests of the child. Although most children can benefit from the input of both parents, there are situations, such as abuse, where sole custody could be beneficial.
