South Carolina Divorce Agreement

South Carolina Divorce Agreement – All You Need to Know

If you are considering getting a divorce in South Carolina, it is important to understand the divorce agreement process. A divorce agreement, also known as a marital settlement agreement or a separation agreement, is a legal document that outlines the terms and conditions of a divorce.

In South Carolina, a divorce agreement must be signed by both parties and approved by the court before it becomes legally binding. It is highly recommended to have an experienced divorce attorney to help you prepare and negotiate the terms of the agreement.

Here are some of the key issues that a typical South Carolina divorce agreement covers:

Division of Property and Debts

One of the most important parts of a divorce agreement is the division of the couple`s property and debts. South Carolina follows the principle of equitable distribution, which means that the court will divide the marital property and debts fairly, but not necessarily equally. The divorce agreement should specify the division of all assets, including real estate, bank accounts, retirement accounts, and personal property. It should also specify who will be responsible for paying different debts, such as mortgages, credit cards, and loans.

Child Custody and Support

If the couple has children, the divorce agreement must also address child custody and support. In South Carolina, the court encourages parents to come up with a child custody arrangement that is in the best interests of the child. The agreement should specify the physical and legal custody of the child, as well as visitation rights for the non-custodial parent. Child support should also be included, detailing the amount and frequency of payments.

Spousal Support

The divorce agreement may also specify whether one spouse will pay spousal support (also called alimony) to the other. Spousal support is designed to help the lower-earning spouse maintain a reasonable standard of living after the divorce. The amount and duration of the payments depend on several factors, such as the length of the marriage, the income and earning capacity of each spouse, and their health and age.

Insurance and Taxes

The agreement should also address any insurance policies that were shared during the marriage, such as health insurance or life insurance. It should specify who will continue to pay for these policies and when they will end. The agreement must also address any tax-related issues, such as the filing of joint tax returns, the payment of taxes owed, and the claiming of tax exemptions and deductions.

In conclusion, a South Carolina divorce agreement is a crucial document that outlines the terms of the divorce, including property and debt division, child custody and support, spousal support, insurance and tax matters. It is important to have an experienced divorce attorney to help you negotiate the terms and ensure that your rights and interests are protected.