Equitable Distribution/Memorandum of Agreement?


#1

Janet,

I know I wasn’t supposed to move out before the Agreement was signed but have gone through all the steps to Seperate/Divorce because I wanted to. She wanted me to move out/Seperate to allow both of us to work on bettering ourselves. WTF? I felt like asking me to move out would be the end all to the marriage. She thinks otherwise. She thinks it will make us both stronger and we “may” get back together. I felt is was best to have the Agreement. We have split everything. No more joint anything. Last night we called GEICO and seperated car insurances. That was the last thing that was joint. The only thing left is the signing of the Agreement, Health Insurance (which I pay through my employer until the Divorce) and the Divorce.

I don’t/didn’t want any of this. I want to be with her. The need/want is emotional not financial because we both make over 50K a year. Yes she’s not perfect and neither am I. I don’t want to give up but who knows what the Seperation/living apart will bring. I feel like I’m doing the right thing by having the Agreement even though we have stated to each other we want to be together.

What do you think? Is the Agreement invalid based on we both want to be together or is it void once we cohabitate, conjoin banking, insurances etc?


#2

Janet,

I found this on the net. Is this a better “Waiver of” statement:

  1. WAIVER OF EQUITABLE DISTRIBUTION. The parties acknowledge that a mutually satisfactory division has been made between them of all assets heretofore acquired by either of them. Hereafter, each party shall own, free of any claim, including the right to equitable distribution under the applicable North Carolina General Statute all items of property of every kind which are now held or which may hereafter be acquired by either of them, and each party shall be free to dispose of the same as fully and effectively as if he or she were unmarried; therefore, the parties waive the right either may have to equitable distribution.

#3

Janet,

Am I being too specific? Do I need to pay you for this opinion?

Mav


#4

Dear maverick:

Greetings. Yes, the language in the first post is adequate, as well as the other paragraph you stated in the other post. Both are good waivers and will not allow her to any future entitlement to your retirement benefits, so use both.

I would put the waiver in a separate paragraph.

No, a memorandum of agreement is a separate document (not included in the separation agreement) and is an abbreviated form of the separation agreement for filing in the public record.

Finally, you are making a good decision to have a separation agreement. Make sure you have a reconciliation paragraph in the agreement and know what it means prior to signing the same.

No, the forum is a free service! No payments allowed unless you need our services to review the actual agreement, etc. Best of luck.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
RosenDivorce.com
919-787-6668

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#5

Question 1: Is this statement enough to say that she agrees to a Waiver of Equitable Distribution. This is listed as the last paragraph in Section III: Property Division

“The parties stipulate that this division represents a full and final divison of all property as defined in Chapter 50 of the North Carolina General Statutes, and may be pled as a bar to any subsequent action for equitable distribution.”

Some time ago I asked you what will prevent any future entitlement to my Federal Employee Retirement and Thrift Savings benefits. You said a Waiver. In case you don’t remember Topic “County?” started 07/28/2004.

Should the Waiver be it’s own seperate Section of the Agreement? These are the current sections:

Section I: Seperation of the Parties
Section II: Debts
Section III: Property Division
Section IV: Rights to Inheritance
Section V: General Provisions

Question 2: Can Section I serve as the “Memorandum of Agreement” if it specifcally list that the parties may purchase from this date, at all times hereafter blah blah blah (you know the routine) as though not married ??? I plan to have the Seperation recorded in my new county of residence(Columbus) and her county(Robeson)