A Memorandum of Understanding (MOU) is a contract signed by two spouses when they divorce amicably. It lays down the parameters of mutual divorce, in writing. In doing so it eliminates the possibility of further litigation when presented to a judge. In this case, the couple has met with a mediator and negotiated the terms of their separation before filing for divorce.
The mediator drafts this into a formal document, aka the MOU, that both parties sign.
The MOU outlines the division of assets among the couple. If applicable it will address child custody, spousal support, future business profits…whatever details for assets that need to be negotiated, specific to the couple. The MOU addresses rights and liabilities, assets and debts, and other numerous claims that one divorcing spouse can have against another. It contains all the terms of the separation, including things that may become contentious in the future, and concretizes them in writing.
The MOU, once negotiated fair and equitably via mediation, acts as a comprehensive and final settlement, after which the spouses are granted no further rights to file a lawsuit about the dissolution of their marriage. It is a legally binding document. If any of the two parties violates the terms of the MOU, the aggrieved party has the legal right to sue the person responsible for the violation of the agreement.
Why You Can’t Get Divorced Without an MOU
The MOU must be signed by both parties. Everyone’s signature must be acknowledged in the presence of a notary public. When your MOU is finished, it is ready to be presented to the legal system.
The MOU services as a legal separation agreement, essentially the terms of a divorce. With mediation, a couple works out these details together, in advance, with a fair and impartial mediator. The MOU is then presented in court and accepted by the judge, to finalize the divorce. Because all of the terms have been negotiated, put into writing, and agreed upon in advance, there is no need for litigation, with lawyers fighting it out in front of a judge who would then decide who should get what after the divorce.
How to Make Sure that Both Parties Come Out a Winner in MOU
The best solution to being in a win-win situation for both parties is to try mediation for divorce.
The point of mediation is that a divorcing couple works with a mediator to work through all of the things such as child custody, support, property distribution, etc… that go into the MOU.
The culmination of mediation is the preparation of the MOU by the mediator, which the couple then presents in court. Because both couples have already agreed to the content of the MOU, the judge accepts it as uncontested.
In this scenario, the couple maintains control and makes all the decisions, not a judge.
Ask us about the process of divorce mediation for a fair and equitable divorce.