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Marital Settlement Agreement For Simplified Dissolution Of Marriage Template for Canada

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Marital Settlement Agreement For Simplified Dissolution Of Marriage

"I need a Marital Settlement Agreement For Simplified Dissolution Of Marriage under Canadian law for a childless couple separating amicably, with shared ownership of a house in Toronto and two investment properties, plus division of retirement accounts and a joint business venture."

Document background
The Marital Settlement Agreement For Simplified Dissolution Of Marriage is specifically designed for couples in Canada who are seeking an uncontested divorce and have reached agreement on all major aspects of their separation. This document is used when both parties wish to dissolve their marriage with minimal court intervention, provided they meet the requirements for a simplified dissolution under Canadian law. The agreement typically includes comprehensive provisions for property division, potential support obligations, and mutual releases, while complying with both federal divorce legislation and applicable provincial family law. It's particularly suitable for couples without complex assets, who have been separated for at least one year, and who have either no children or have already established agreeable parenting arrangements. The document serves as a key element in expediting the divorce process through the Canadian legal system while ensuring all legal requirements are properly addressed.
Suggested Sections

1. Parties: Identification and details of both spouses entering into the agreement

2. Background: Information about the marriage, separation date, and intent to divorce

3. Definitions: Definitions of key terms used throughout the agreement

4. Separation and Divorce: Acknowledgment of separation and intention to proceed with divorce

5. Division of Property: Details of how matrimonial property and debts will be divided

6. Family Home: Disposition or handling of the matrimonial home

7. Release of Rights: Mutual release of claims against each other's estates and property

8. Full and Final Settlement: Confirmation that this agreement represents a complete settlement

9. Independent Legal Advice: Acknowledgment that both parties had opportunity for independent legal counsel

10. Governing Law: Specification that the agreement is governed by Canadian law

11. Severability: Provision stating that if any part is invalid, the rest remains enforceable

12. Execution: Signing and witnessing requirements

Optional Sections

1. Child Custody and Access: Terms regarding custody, access, and parenting arrangements - included if there are children of the marriage

2. Child Support: Child support obligations and arrangements - included if there are dependent children

3. Spousal Support: Terms of spousal support payments - included if spousal support is being paid

4. Insurance Provisions: Requirements for life, health, or disability insurance - included if insurance policies are part of the settlement

5. Pension Division: Terms for dividing pension benefits - included if either party has pension assets

6. Business Interests: Division of business assets - included if either party owns a business

7. Tax Provisions: Special tax arrangements or considerations - included if there are complex tax implications

8. Pets: Arrangements for family pets - included if there are pets to be considered

9. Future Dispute Resolution: Process for resolving future disputes - included if parties want to specify mediation or arbitration procedures

Suggested Schedules

1. Schedule A - Assets and Liabilities: Detailed list of all matrimonial assets and debts with agreed values

2. Schedule B - Property Division: Specific details of how each asset and debt will be divided or transferred

3. Schedule C - Financial Statements: Current financial statements of both parties

4. Schedule D - Insurance Policies: List of all relevant insurance policies and beneficiary designations

5. Schedule E - Parenting Schedule: Detailed parenting time schedule if children are involved

6. Appendix 1 - Child Support Calculations: Calculations showing how child support amounts were determined

7. Appendix 2 - Property Valuations: Professional valuations of significant assets like homes or businesses

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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