Virginia Divorce Property Settlement Agreement

2012— Dailey v. Dailey, 59 Va. App. 734The court erred when it found that the husband`s retirement and the beginning of the resulting payments to the wife on his pension were reasonably foreseeable when the parties entered into their transaction agreement, and therefore an error in the finding that retirement was not a sufficient basis for the husband`s request for a reduction in spousal assistance. The settlement agreement between the parties provided that sp assistance could be amended on the basis of a substantial change in circumstances. The parties found that the husband`s retirement was a significant change, but the court found that the amendment was reasonably foreseeable, as the parties` transaction contract specifically provided for the wife to receive a portion of the husband`s pension after retirement. However, there was compelling evidence that Husband did not intend to retire at the time of the parties` contract change. In addition, the transaction agreement was not concluded on the question of whether sped assistance would be maintained or terminated with the husband`s retirement. Thus, the Court of Appeal found that the agreement did not provide a basis for concluding that the parties had reasonably contemplated or foreseen the effects of the husband`s departure on his obligation to assist the spouse and therefore dismissed the case in determining whether the husband`s unpredictable retirement warranted a change in sp upon the spouse. In an undisputed divorce, the court almost always approves the consent of the parties when it is generally fair and the court is satisfied that the agreement was reached by both spouses without fraud or coercion.

Often, the court may want to verify the financial sworn insurances that are related to the agreement in order to determine their fairness. A separation agreement is a legal document that binds you together for many years and determines your rights, obligations and responsibilities from your marriage. You and your spouse can amend the agreement if you agree to both changes; it may be amended by a court order, unless the agreement explicitly states that the agreement is not subject to judicial amendment. Nevertheless, the court can still amend the provisions of an agreement on custody and custody of minor children. Back to the top Q. Is an MSA necessary in Virginia? Q. What is a marriage separation and real estate counting contract (MSA)? Q. Why is a marriage separation and real estate counting contract important? Q.

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