Getting a divorce is never an easy decision, but when both parties agree to the terms of the separation, it can make the process less stressful. The document that outlines the terms of separation is called a marital settlement agreement (MSA). This agreement outlines everything from the division of assets to spousal support. However, sometimes after the MSA is signed, there may be a need for additional terms or changes. This is where an addendum to the marital settlement agreement comes into play.
What is an Addendum to the Marital Settlement Agreement?
An addendum to the MSA is simply a modification or addition to the original agreement. It allows both parties to make changes to the terms of the original agreement without having to go through the court system again. Sometimes, changes are necessary due to unforeseen circumstances, such as a change in income or a child’s unexpected expense. Other times, it may be a simple oversight that needs to be corrected.
Why Should You Consider an Addendum?
An addendum can be an excellent way to make necessary changes to the MSA without having to go through the court process again. Going to court can be time-consuming and costly, so any opportunity to avoid this process is often welcomed by both parties. Additionally, an addendum allows both parties to continue to work together in a collaborative manner. It can demonstrate a willingness to compromise and work together for the benefit of all involved.
How to Draft an Addendum to the MSA?
The process for drafting an addendum to the MSA is similar to the process of creating the original MSA. It is critical to have a knowledgeable family law attorney draft the addendum to ensure that it is legally binding and enforceable. Once the addendum is drafted, it must be signed and notarized by both parties.
Conclusion
Divorce can be a challenging and emotional process, but it can be made easier by having a well-crafted MSA in place. However, even the best-crafted MSA may require changes due to life circumstances. An addendum to the MSA can be a useful tool to modify or add terms to the original agreement without having to go through the court process again. Contact a family law attorney today to see if an addendum is the right choice for your situation.