Will Settlement Agreement Georgia
Posted on October 16, 2021
(e) An agreement entered into under this section of the Code is final and binding on the interested persons as if it had been ordered by a court whose jurisdiction over the trust, the assets of the trust and the interested persons. Once the divorced parties have agreed on how they wish to divide their matrimonial property, whether through mediation, private discussion between the parties or any other form of dispute resolution, the parties must obtain the consent of the court presiding over the divorce. In their settlement agreement, a couple can resolve not only property division issues, but also issues related to support, child support, custody and visitation. For an agreement to be approved by a court, it must be reviewed by the presiding judge to ensure that the agreement complies with the law, particularly with respect to matters of alimony and child custody. Gravley v. Gravley, 278 Ga. 897 (2005). However, if the property was acquired by inheritance or gift from a third party, it is generally considered to be separate property, even if it was acquired during the marriage. But no matter when and how they are acquired, when real estate is later titled from one spouse to another or to both spouses, then it is generally considered matrimonial property. This is quite common, especially if the property was refinanced during the wedding.
Agreements between parties to a divorce action that settle all matters related to their divorce, including division of property, custody, child support, parental plans and alimony, are enforceable in Georgia. Sanders v. Colwell, 248 Ga. 376 (1981). These agreements are commonly referred to as matrimonial settlement agreements, property settlement agreements, or marriage dissolution agreements. For these agreements to take effect, they must be approved by the presiding court and included in the couple`s final judgment and divorce decision. These agreements are usually made after the divorce action has been filed. Agreements in consideration of divorce, which are agreements concluded before the commencement of divorce proceedings to settle the issues of alimony, division of property, custody, child support and visitation, are also valid in Georgia. .