DIVORCE SETTLEMENT AGREEMENT

(State of Virginia)

[// GUIDANCE: This court-ready template is drafted for use in Virginia family-law matters. Each bracketed item must be customized before execution. Citations to the Virginia Code are limited to foundational provisions that govern equitable distribution, child support, and child custody/visitation.]

TABLE OF CONTENTS

1. Document Header
2. Definitions
3. Operative Provisions
   3.1 Property Division
   3.2 Spousal Support / Maintenance
   3.3 Child Custody & Visitation
   3.4 Child Support
   3.5 Allocation of Marital Debts
   3.6 Tax Matters
4. Representations & Warranties
5. Covenants & Restrictions
6. Default & Remedies
7. Risk Allocation
   7.1 Mutual Indemnification
   7.2 Limitation of Liability
   7.3 Insurance
   7.4 Force Majeure
8. Dispute Resolution
9. General Provisions
10. Execution Block

1. DOCUMENT HEADER

1.1 Title and Parties

This Divorce Settlement Agreement (the “Agreement”) is entered into by and between [PARTY A FULL LEGAL NAME], formerly known as [MAIDEN/PRIOR NAME], (“Party A”), and [PARTY B FULL LEGAL NAME] (“Party B” and, together with Party A, the “Parties,” and each a “Party”).

1.2 Recitals

A. The Parties were lawfully married on [MARRIAGE DATE] in [CITY/COUNTY, STATE].
B. Irreconcilable differences have arisen between the Parties, and they have separated on [DATE OF SEPARATION].
C. Each Party desires to settle fully and finally all rights and obligations arising out of the marital relationship, including but not limited to support, custody, and division of property.
D. The Parties intend that this Agreement be incorporated, but not merged, into any Final Decree of Divorce entered by the [NAME OF VIRGINIA CIRCUIT COURT] (the “Court”).

1.3 Effective Date

This Agreement shall become effective on the date of the last signature below (the “Effective Date”).

1.4 Governing Law and Jurisdiction

This Agreement is governed by and shall be construed in accordance with the domestic-relations laws of the Commonwealth of Virginia, including Va. Code Ann. §§ 20-107.3, 20-108.2, and 20-124.3, without regard to conflict-of-law principles. The Court shall retain exclusive jurisdiction over all matters arising hereunder.

2. DEFINITIONS

Capitalized terms used herein shall have the meanings set forth below:

“Child(ren)” means the minor child(ren) of the Parties:
• [CHILD 1 FULL NAME], born [DOB];
• [CHILD 2 FULL NAME], born [DOB]; [Add/Delete as necessary].

“Marital Assets” means all property classified or deemed marital under Va. Code Ann. § 20-107.3(A), including all appreciation and increments thereto.

“Separate Property” means property classified as separate under Va. Code Ann. § 20-107.3(A)(1).

“Support Guidelines” means the presumptive child-support guidelines codified in Va. Code Ann. § 20-108.2 and any interpretive case law in force on the Effective Date.

Additional definitions may be added as needed.

3. OPERATIVE PROVISIONS

3.1 Property Division

3.1.1 Classification. The Parties acknowledge that all Marital Assets and debts have been disclosed in the attached Schedule 1.
3.1.2 Equitable Distribution. Pursuant to Va. Code Ann. § 20-107.3, the Parties agree to divide Marital Assets as follows:
a. Real Property: The marital residence located at [ADDRESS] shall be conveyed to [Party A/Party B] by special warranty deed within [30] days of the Effective Date. [Insert refinancing or sale provisions as necessary].
b. Retirement Accounts: The Parties shall divide retirement benefits via Qualified Domestic Relations Order (“QDRO”) allocating [PERCENTAGE]% of Party B’s [PLAN NAME] to Party A, valued as of [DATE].
c. Personal Property: Items listed in Schedule 1, Part C shall be allocated as indicated. Any property not expressly awarded herein shall vest in the current possessor.
3.1.3 Equalizing Payment. Party [A/B] shall pay an equalizing lump sum of $[AMOUNT] to Party [B/A] on or before [DATE]. Such payment shall survive discharge in bankruptcy.

[// GUIDANCE: Insert additional clauses for business interests, stock options, etc., if applicable.]

3.2 Spousal Support / Maintenance

3.2.1 Waiver or Award. Select One:
☐ Mutual Waiver. Each Party knowingly and voluntarily waives any right to spousal support now and in the future.
☐ Fixed-Term Support. Party [B/A] shall pay rehabilitative spousal support of $[AMOUNT] per month for [DURATION] years beginning on the first day of the month following entry of the Final Decree.
3.2.2 Termination Triggers. Spousal support shall terminate upon the earliest of:
a. death of either Party;
b. remarriage of the recipient; or
c. cohabitation by the recipient in a relationship analogous to marriage for a continuous period of one year.
3.2.3 Modifiability. Support is ☐ modifiable ☐ non-modifiable except by written agreement incorporated into a court order.

3.3 Child Custody & Visitation

3.3.1 Legal Custody. The Parties shall share joint legal custody in accordance with Va. Code Ann. § 20-124.2.
3.3.2 Physical Custody Schedule. The Parties adopt the parenting plan attached as Schedule 2 (the “Parenting Plan”).
3.3.3 Best Interests. The Parties acknowledge the factors set forth in Va. Code Ann. § 20-124.3 and affirm this arrangement serves the Child(ren)’s best interests.
3.3.4 Relocation. Neither Party shall relocate the Child(ren)’s primary residence outside [RADIUS] miles of [CITY/ZIP] without 90 days’ prior written notice and either written consent of the other Party or further order of the Court.

3.4 Child Support

3.4.1 Guideline Calculation. Child support shall be paid by [PAYOR] to [PAYEE] in the amount of $[AMOUNT] per month in accordance with the Support Guidelines worksheet attached as Schedule 3.
3.4.2 Payment Method. Payments shall be made by income withholding to the Virginia Division of Child Support Enforcement (“DCSE”) unless the Parties jointly opt-out in writing and remain in good standing.
3.4.3 Health Insurance & Unreimbursed Expenses. [Party A/B] shall maintain health-care coverage for the Child(ren). Unreimbursed medical, dental, and extracurricular expenses shall be divided [PERCENTAGE]% (Party A) / [PERCENTAGE]% (Party B).
3.4.4 Review & Modification. Child support shall be subject to statutory review every 36 months or upon a material change in circumstances as defined by law.

3.5 Allocation of Marital Debts

Each Party shall assume responsibility for the debts listed opposite that Party’s name in Schedule 1, Part D. Indemnification obligations relating to such debts are set forth in Section 7.1.

3.6 Tax Matters

a. Filing Status. The Parties shall file ☐ joint ☐ separate federal and state income-tax returns for tax year [YEAR].
b. Dependency Exemptions. Subject to IRS rules, the Parties shall alternate claiming the Child(ren) as dependents as follows: [DETAIL].
c. Deductibility of Support. Any spousal support payments are intended to be ☐ deductible ☐ non-deductible under current Internal Revenue Code provisions.

4. REPRESENTATIONS & WARRANTIES

4.1 Mutual Representations. Each Party represents and warrants on the Effective Date that:
a. Full Disclosure: They have made a full and fair disclosure of all assets, liabilities, and income.
b. Independent Counsel: They have had the opportunity to obtain independent legal advice and are satisfied with such advice.
c. No Undue Influence: They execute this Agreement voluntarily and without coercion.
d. Competence: They are mentally competent and of legal age to enter into this Agreement.

4.2 Survival. The representations and warranties in this Section 4 shall survive execution and shall not merge into any divorce decree.

5. COVENANTS & RESTRICTIONS

5.1 Mutual Cooperation. The Parties shall execute all documents and take all actions necessary to consummate the transactions contemplated herein.
5.2 Confidentiality. Except as required by law or court order, neither Party shall disclose the terms of this Agreement to third parties other than professional advisors.
5.3 Negative Covenants. Neither Party shall incur additional joint debt or pledge the other Party’s credit following the Effective Date.
5.4 Notices. All notices required under this Agreement shall be in writing and delivered via ☐ certified U.S. mail ☐ recognized overnight courier ☐ email with receipt acknowledgment to the addresses set forth below the Parties’ signatures. Notice shall be deemed given on the date of actual delivery.

6. DEFAULT & REMEDIES

6.1 Events of Default
a. Failure to pay any monetary obligation within [10] days after written notice of non-payment;
b. Failure to transfer or convey property within the time periods specified herein;
c. Violation of custody or visitation provisions after written notice and a 48-hour opportunity to cure (where curable).

6.2 Remedies
a. Specific Performance. The non-defaulting Party may seek specific performance for breaches of property-transfer or custody obligations.
b. Accelerated Payments. Upon monetary default, all remaining unpaid sums shall accelerate and become immediately due.
c. Attorneys’ Fees. The defaulting Party shall reimburse the non-defaulting Party for all reasonable attorneys’ fees and costs incurred in enforcing this Agreement.
d. Contempt & Sanctions. The Parties acknowledge the Court’s authority to impose civil or criminal contempt sanctions.

7. RISK ALLOCATION

7.1 Mutual Indemnification

Each Party (“Indemnifying Party”) shall indemnify, defend, and hold harmless the other Party and the Child(ren) (“Indemnified Party”) from and against any losses, claims, damages, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising from the Indemnifying Party’s breach of this Agreement or failure to pay or satisfy any debt or obligation allocated to the Indemnifying Party herein.

7.2 Limitation of Liability

Except for willful misconduct or obligations arising under Sections 3.4 (Child Support) and 7.1 (Indemnification), each Party’s aggregate liability arising under this Agreement shall not exceed the value of the Marital Assets allocated to that Party.

7.3 Insurance

Each Party shall maintain life-insurance coverage in the minimum amount of $[AMOUNT], naming the other Party as trustee for the benefit of the Child(ren), until the youngest Child reaches the age of majority.

7.4 Force Majeure

Neither Party shall be liable for non-performance caused by an event beyond such Party’s reasonable control (e.g., natural disaster, act of war, pandemic) provided that the affected Party gives prompt written notice and resumes performance as soon as practicable.

8. DISPUTE RESOLUTION

8.1 Good-Faith Negotiation. The Parties shall attempt in good faith to resolve any dispute arising under this Agreement through direct negotiation.
8.2 Mediation. If negotiation fails, the Parties shall participate in a minimum of four hours of mediation with a mediator certified by the Supreme Court of Virginia.
8.3 Arbitration (Limited Availability). With the mutual written consent of both Parties, unresolved property or support disputes may be submitted to binding arbitration under the Uniform Arbitration Act (Va. Code Ann. § 8.01-581.01 et seq.). Custody and visitation issues shall remain within the exclusive jurisdiction of the Court.
8.4 Forum Selection. Any judicial proceeding shall be brought exclusively in the [NAME OF VIRGINIA CIRCUIT COURT].
8.5 Injunctive Relief. Nothing herein limits either Party’s right to seek temporary or permanent restraining orders, protective orders, or other injunctive relief concerning the Child(ren) or marital assets.
8.6 Jury Waiver. The Parties acknowledge that family-law matters in Virginia are tried without a jury.

9. GENERAL PROVISIONS

9.1 Amendment & Waiver. This Agreement may be amended only by a writing signed by both Parties and approved by the Court. No waiver shall be effective unless in writing and signed by the waiving Party.
9.2 Assignment. Neither Party may assign rights or delegate duties under this Agreement without the other Party’s prior written consent.
9.3 Successors & Assigns. This Agreement shall inure to the benefit of and bind the Parties and their respective heirs, executors, administrators, and permitted assigns.
9.4 Severability. If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force, and the invalid provision shall be reformed to the minimum extent necessary to achieve its intent.
9.5 Entire Agreement. This Agreement, including all Schedules, constitutes the entire understanding between the Parties and supersedes all prior agreements, written or oral, relating to the subject matter herein.
9.6 Counterparts & Electronic Signatures. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original. Signatures delivered via facsimile, PDF, or compliant electronic-signature platform shall be deemed original and binding.

10. EXECUTION BLOCK

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

Notary Acknowledgment (Commonwealth of Virginia)

State/Commonwealth of Virginia
City/County of ______

On this ___ day of __, 20, before me, the undersigned Notary Public, personally appeared [PARTY A NAME], known to me or satisfactorily proven to be the person whose name is subscribed to the foregoing instrument and acknowledged that he/she executed the same for the purposes therein contained.

My commission expires: _____

Notary Public

Duplicate notary block for Party B.

SCHEDULE 1 – Financial Disclosure & Property Allocation

[Attach detailed balance sheet of assets and debts, with columns for Fair-Market Value, Classification (Marital/Separate), and Recipient Party.]

SCHEDULE 2 – Parenting Plan

[Insert detailed physical-custody calendar, holiday schedule, decision-making protocols.]

SCHEDULE 3 – Child-Support Worksheet

[Attach completed Virginia Child-Support Guidelines worksheet.]

[// GUIDANCE: Attach additional schedules (e.g., QDRO terms, business-valuation summaries) as needed.]

END OF DOCUMENT