An Oklahoma marital settlement agreement (MSA) is a legally binding document that is drafted during divorce proceedings in the state of Oklahoma. The MSA outlines the terms and conditions of a divorce, including how the divorcing couple will divide their assets, debts, and responsibilities related to any minor children they have. In this article, we’ll take a closer look at the specific aspects of an MSA that pertain to minor children.
Child custody and visitation
One of the most crucial elements of an Oklahoma MSA that involves minor children is child custody. The agreement outlines which parent will have primary physical custody of the child and which parent will have visitation rights. If both parents agree to share joint custody, they will need to outline a schedule that works for both parties in the agreement. The document also specifies the frequency and duration of visitation, including holidays and vacations.
Child support
An Oklahoma MSA will also address child support payments. The document outlines how much child support will be paid by one parent to the other and the frequency of payments. In general, child support payments are determined based on each parent`s income and the child`s needs, including health insurance, education, and other expenses.
Child-related expenses
In addition to child support, an Oklahoma MSA will also outline how the parents will split the costs of child-related expenses, such as medical bills, school tuition, and extracurricular activities. The agreement should specify which parent will be responsible for paying for each expense, what documentation is required to prove the expense, and how the reimbursement process will work.
Parenting plan
An Oklahoma MSA also includes a parenting plan, which outlines the specific responsibilities and duties of each parent regarding minor children. This plan may include details about how the parents will communicate with each other and with their children, how they will make decisions about the children, and how they will handle discipline issues.
Conclusion
An Oklahoma MSA is an important document for divorcing couples with minor children. The agreement covers critical aspects of child custody, visitation, support, expenses, and parenting. It is crucial for both parties to work with an experienced divorce attorney to ensure the MSA accurately reflects their wishes and best interests of their children.