Document background
The Divorce Settlement Agreement is a crucial legal document used in New Zealand when married couples decide to formally end their marriage and settle their affairs. This agreement is drafted in accordance with the Family Proceedings Act 1980 and the Property (Relationships) Act 1976, typically being prepared after separation but before or during divorce proceedings. It comprehensively covers property division, financial arrangements, spousal maintenance, and where applicable, arrangements for children's care and support. The document must be drafted with independent legal advice for both parties and requires careful consideration of all assets, liabilities, and future obligations. While not all divorcing couples need a formal settlement agreement, it is highly recommended for those with significant assets, children, or complex financial arrangements, as it provides clarity and certainty while reducing the likelihood of future disputes.
