REASONS WHY IT IS FAVORABLE TO HAVE A SETTLEMENT AGREEMENT IN DIVORCE PROCEEDINGS
We know that making the decision to end a marriage is a very emotional and hard decision to make. Having to then fight over the assets and liabilities in the estate is even more draining and not to mention costly.
Entering into a settlement agreement where the divorce is a bit more complex than usual is one of the best ways to ensure that one party to the action is not left worse off than the other.
- A settlement agreement has to be initialled and signed by both parties as well as two witnesses for each party and attached to the court papers when the matters comes before the court. The court will then, if satisfied with the content of the settlement agreement, make same an order of court which means that it is binding on both parties.
- Once a settlement agreement has been made an order of court, the parties will have to approach the court again to have same amended or set aside. If one party further breaches the settlement agreement, once it is an order of court, the aggrieved party can again approach the court for relief.
- Opposed divorces where there is no settlement can further take years to finalise. Entering into a settlement agreement means that the divorce becomes unopposed and will be finalised a lot quicker than an opposed divorce.
It is thus very favourable to rather try and settle on the material aspects of a divorce to have a formal settlement agreement entered into which is then made an order of court.
At Burden Swart & Botha inc. we simplify complex legal matters for you. In this challenging time we would like you to know that you are not alone. We are at your service and we care.
Please don’t hesitate to contact us for professional, friendly and compassionate legal advice and representation.