Drafting Tips For Marital Settlement Agreements Page 3
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43.
Talk to Opposing Counsel Before You Start Drafting
•
Which Lawyer is Doing the Drafting
•
What is the Timetable
•
Does the Other Lawyer have “Pet Language” he or she wants
•
Avoid “Dueling Agreements”
•
Mail – Fax – E-mail – Personal Meeting
4.
Don’t A-S-S-U-M-E Anything
•
Don’t ASSUME real problems will be drafted away
•
Don’t ASSUME you know everything – READ DOCUMENTS
•
Don’t ASSUME the Tax Code
•
Do Your Own Drafting
5.
Use Examples if Necessary
#.#.
The Husband is currently the owner of a __% interest in an entity
known as _______________. With respect to said ownership
interests, the parties agree that the Husband shall retain ownership
of same free and clear of any claim thereto by the Wife, except and
unless said ownership interest is ever sold and reduced to a liquid
position, in which case the Wife shall be entitled to receive the
following declining percentage proportional share of the
Husband’s interests therein, on an after-tax basis, based upon the
following timetable all timed upon the anniversary date of the
Judgment for Dissolution of Marriage:
a.
50% – Until 1 year anniversary of Judgment
st
nd
b.
47% - Between 1
and 2
year after entry of Judgment
nd
rd
c.
40% - Between 2
and 3
year after entry of Judgment
rd
th
d.
35% - Between 3
and 4
year after entry of Judgment
th
th
e.
30% - Between 4
and 5
year after entry of Judgment
th
th
f.
25% - Between 5
and 6
year after entry of Judgment
th
th
g.
20% - Between 6
and 7
year after entry of Judgment
th
th
h.
15% - Between 7
and 8
year after entry of Judgment
th
th
i.
10% - Between 8
and 9
year after entry of Judgment
th
th
j.
5% - Between 9
and 10
year after entry of Judgment
th
k.
0% - After 10
year after entry of Judgment
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