Pennsylvania Divorce Settlement Agreement
This Divorce Settlement Agreement ("Agreement") is made and entered into this _____ day of ___________, 20__, by and between ___________________ (hereinafter "Party One") and ___________________ (hereinafter "Party Two"). The parties have made the decision to terminate their marriage and have agreed to live separately and apart. This Agreement outlines the division of their assets, liabilities, support obligations, and the arrangements for any minor children of the marriage. The provisions of this Agreement comply with the laws of the State of Pennsylvania, ensuring all decisions are made with regard to Pennsylvania’s specific legal requirements.
1. Identification of Parties
This Agreement is between Party One, whose address is ________________________, and Party Two, whose address is ________________________. Both parties agree to promptly inform each other of any changes in addresses or contact information.
2. Marital Status
Both parties confirm that they were lawfully married on the ____ day of ___________, 20__, in ____________________, Pennsylvania, and are now seeking a divorce under the laws of the State of Pennsylvania.
3. Division of Marital Assets and Debts
The parties agree to the following division of assets and liabilities:
- The marital home located at _______________________ will be (a) sold and the proceeds divided, (b) retained by Party One, or (c) retained by Party Two.
- Bank accounts and cash assets shall be divided as follows: _______________________________________.
- Personal property, including household furnishings, vehicles, and other tangible goods, shall be divided as follows: _______________________________________.
- Retirement accounts, pensions, and any other investment accounts shall be divided as per the following arrangements: _______________________________________.
- All debts and liabilities will be assumed as follows: _______________________________________.
4. Spousal Support
Party One [shall/shall not] provide spousal support to Party Two. The terms of the spousal support, including amount and duration, are as follows: _______________________________________.
5. Child Custody, Support, and Visitation
If there are any minor children from the marriage, the parties agree to the following terms concerning custody, support, and visitation:
- Legal Custody: Legal custody of the children shall be [jointly held / awarded to Party One / awarded to Party Two], which means decisions regarding education, healthcare, and religious upbringing shall be made as follows: _______________________________________.
- Physical Custody: Physical custody of the children shall be arranged as follows: _______________________________________.
- Child Support: The non-custodial parent shall provide child support in the amount of $__________ per month until each child reaches the age of 18 or graduates high school, whichever is later.
- Visitation: The non-custodial parent shall have rights to visitation according to the following schedule: _______________________________________.
6. Entire Agreement
This document constitutes the entire agreement between the parties regarding their divorce and supersedes all prior discussions, agreements, or understandings, whether written or oral. Any amendments to this Agreement must be in writing and signed by both parties.
7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Pennsylvania.
8. Signatures
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
Party One's Signature: _______________________ Date: _______________
Party Two's Signature: _______________________ Date: _______________