If you and your spouse are contemplating divorce or separation, it may be a good idea have a Property Settlement Agreement (PSA) drafted by an experienced attorney.  A PSA is an agreement between spouses wherein both parties contractually agree on a vast array of items, including but not limited to the following:  

• Division of assets/property, including real estate, timeshares, bank accounts, vehicles, items of personal property, 401(k) and other retirement accounts
• Designation of which spouse is entitled to reside in the principal residence
• Determining which spouse is responsible for certain repaying debts, such as mortgage loans, vehicle loans, credit card debts, personal loans, etc.
• Custody of minor children & Visitation
• Custody of Pets
• Child support
• Spousal Support & Maintenance/Alimony 

*Please note that a Property Settlement Agreement (PSA) is technically a contract and therefore it is binding on both parties.  Violation of the terms of a PSA is technically a breach of contract.  

*The Property Settlement Agreement (PSA) is commonly later “ratified” by the divorce court in its Final Divorce Decree.  After ratification of the PSA, a violation of any of the terms of the PSA by either spouse is tantamount to civil contempt of court and punishable by fine or imprisonment. 

If any of the scenarios illustrated above apply to you, call us now at (757) 333-7336 to discuss your options.  Or fill out the short intake form below for a FREE consultation.