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FINAL STIPULATION Property, Debts and Spousal Support (Vermont Judiciary)

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400-00878 – Final Stipulation Property/Debts/Spousal Support (02/2019) Page 1 of 7
STATE OF VERMONT
SUPERIOR COURT
FAMILY DIVISION
Unit
Docket No.
Plaintiff
v.
Defendant
FINAL STIPULATION
Property, Debts and Spousal Support
We, the parties in this action, agree to the following provisions and we request that the Court include these
provisions in its final decree and order of divorce:
1. Separation - We have lived separate and apart in excess of six consecutive months, and the
resumption of our marital or civil union relationship is not reasonably probable.
We separated on _______________.
(Date)
2. Waiting Period (Nisi Period) - In Vermont, a divorce/civil union dissolution is not absolute until 90 days
after the date of the final decree unless the parties agree to waive all or part of that period known as
the ''nisi period.'' A waiver of all or part of the period can have an impact on one party’s eligibility to be
covered by the other party's health insurance and income tax filing status.
☐ We wish to waive the waiting period. We understand that the divorce/civil union dissolution
will become final on the date the divorce decree is signed by the judge.
☐ We do not wish to waive any portion of the waiting period. We understand that our
divorce/civil union will not become final until 90 days after the date the divorce decree is
signed by the judge. We understand neither may remarry until after the nisi period has ended.
☐ We wish to waive a portion of the waiting period so that the final decree will become final
__________ days after it is signed.
3. Vehicles
☐ We do not own any motor vehicles.
☐ Each party is awarded the vehicle(s) in their name or possession free of any right, title or interest of
the other party. The party to whom the vehicle is awarded shall be solely responsible for any
loans/liens or lease on the vehicle and shall indemnify and hold the other party harmless from any
liability for that debt.
☐ Title and ownership for the following vehicle(s) will be transferred to the
☐ Plaintiff by _______________
(Date)
☐ Defendant by _______________
(Date)
Describe vehicle(s): _______________________________________________________________
Refinancing or payoff of any loans related to this vehicle will be completed by ________________
(Date)
☐ Title and ownership for the following vehicle(s) will be transferred to the
☐ Plaintiff by _______________
(Date)
☐ Defendant by _______________
(Date)
Describe vehicle(s): _______________________________________________________________
Refinancing or payoff of any loans related to this vehicle will be completed by ________________
(Date)
400-00878 – Final Stipulation Property/Debts/Spousal Support (02/2019) Page 2 of 7
4. Furniture and Other Personal Property
☐ We have divided all of our furniture and other personal property to our satisfaction except as
otherwise noted below and we agree that the Court should award each of us the personal property
in our possession free of any interest of the other party.
☐ Plaintiff is awarded the following items of personal property:
____________________ ____________________ ____________________
____________________ ____________________ ____________________
☐ Defendant is awarded the following items of personal property:
____________________ ____________________ ____________________
____________________ ____________________ ____________________
The items listed above shall be transferred to the party to whom they are awarded as follows:
(please specify date and means of transfer)
____________________ ____________________ ____________________
____________________ ____________________ ____________________
5. Pensions, Retirement Plans and Other Tax Deferred Assets
☐ Neither party has a pension, retirement plan or any tax deferred assets.
☐ Each party is awarded sole ownership and possession of any pension, retirement 401(k), 403, IRA,
or other retirement plan currently in their name, free and clear of any interest of the other party,
except as provided below
☐ The following retirement asset shall be divided between the parties:
Name of Participant or owner of plans or account: ________________________
Name of Asset/Plan: ________________________________________________
Agreed-upon effective date of division _______________
Agreed upon division:
☐ $_______________ to be transferred to Plaintiff
☐ $_______________ to be transferred to Defendant
☐ _______________% to be transferred to Plaintiff
☐ _______________% to be transferred to Defendant
The agreed-upon amount or percentage shall be:
☐ the exact dollar amount stated, or exact percentage as of the effective date.
☐ adjusted to reflect market fluctuation (increases/reductions) in value from the effective
date to the date of distribution.
☐ The Plaintiff ☐ The Defendant shall prepare a Qualified Domestic Relations Order within a
reasonable period of time not to exceed _______________months.
☐ The following retirement asset shall be divided between the parties:
Name of Participant or owner of plans or account: ________________________
Name of Asset/Plan: ________________________________________________
Agreed-upon effective date of division _______________
Agreed upon division:
☐ $_______________ to be transferred to Plaintiff
☐ $_______________ to be transferred to Defendant
☐ _______________% to be transferred to Plaintiff
☐ _______________% to be transferred to Defendant
The agreed-upon amount or percentage shall be:
☐ the exact dollar amount stated, or exact percentage as of the effective date.
☐ adjusted to reflect market fluctuation (increases/reductions) in value from the effective
date to the date of distribution.
400-00878 – Final Stipulation Property/Debts/Spousal Support (02/2019) Page 3 of 7
☐ The Plaintiff ☐ The Defendant shall prepare a Qualified Domestic Relations Order within a
reasonable period of time not to exceed _______________months.
The participant/owner shall not withdraw, transfer or borrow or increase any loan against the plan or
account to be divided prior to the division.
☐ Any loans existing as of the date of this Agreement:
☐ Shall be the sole responsibility of the participant/owner and shall not be included in the
valuation of the plan or account
☐ Shall be the sole responsibility of the participant/owner but the balance shall be included in the
valuation of the account before division.
Note to Parties: Division of retirement accounts, plans and assets may be subject to significant tax
consequences if the transfer or division is not done properly. Parties are cautioned to
contact attorneys and/or plan administrators about preparation of appropriate
documents and orders.
6. Other Financial Assets
☐ Each party is awarded their respective bank accounts (checking and/or savings), credit union
accounts, certificates of deposit and all similar accounts unless otherwise provided below.
☐ Each party is awarded stocks, bonds, mutual funds, stock options or other like financial assets in
their name unless otherwise provided below.
☐ The parties have joint or individual bank or investment or similar accounts.
Financial institution: _________________________
Last four digits of account number _______________ (do not include entire account number)
The joint account shall be equally divided between the parties or
☐ Plaintiff is awarded $_______________ OR __________%
☐ Defendant is awarded $_______________ OR __________%
After division, the joint account shall be closed
☐ the balance is awarded to ☐ Plaintiff ☐ Defendant
☐ The parties have joint or individual bank or investment or similar accounts.
Financial institution: _________________________
Last four digits of account number _______________ (do not include entire account number)
The joint account shall be equally divided between the parties or
☐ Plaintiff is awarded $_______________ OR __________%
☐ Defendant is awarded $_______________ OR __________%
After division, the joint account shall be closed
☐ the balance is awarded to ☐ Plaintiff ☐ Defendant
☐ Neither party is the beneficiary of any trust established by third parties, which is known to that
party
☐ Plaintiff ☐ Defendant
is the beneficiary of a trust, and the following agreement is reached with respect to that trust:
_____________________________________________________________________________
_____________________________________________________________________________
☐ Other: _______________________________________________________________________
_____________________________________________________________________________
400-00878 – Final Stipulation Property/Debts/Spousal Support (02/2019) Page 4 of 7
7. Real Estate
☐ The parties do not own any real estate.
☐ List of properties: The parties own the following real property in either separate names or together
(list the location of each parcel of real property):
_____________________________________________________________________________
_____________________________________________________________________________
☐ The parties do not own any property in joint names. Each party is awarded the property in their
own name free and clear of any interest of the other party.
_____________________________________________________________________________
_____________________________________________________________________________
☐ Sale of Property: On _______________, the following property/properties shall be listed for sale:
(Date)
_____________________________________________________________________________
_____________________________________________________________________________
The net proceeds from such sale shall be divided as follows:
Plaintiff: __________%
Defendant: __________%
Other conditions related to the sale of the property/properties:
Until the sale of the property, responsibility for payment of mortgage, taxes and other expenses
related to the property shall be paid as follows:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
☐ Property Awarded to Plaintiff: Plaintiff is awarded the following parcel(s) of real property, free and
clear of any interest of Defendant.
_____________________________________________________________________________
_____________________________________________________________________________
☐ Plaintiff shall be solely responsible for the mortgage; property taxes and all expenses related to
the property and shall indemnify and hold the Defendant harmless from any liability on that
debt.
☐ By _______________, Plaintiff shall pay Defendant $_______________ as compensation for
their interest in the property.
☐ By _______________, Defendant shall sign a quit claim deed transferring their interest in the
property to Plaintiff.
☐ By _______________, Plaintiff shall refinance the mortgage on the property releasing
Defendant from all liability. The parties shall cooperate in the drafting and execution of all
paperwork necessary to accomplish the refinancing.
☐ Other conditions related to the transfer: _____________________________________
______________________________________________________________________
☐ Property Awarded to Defendant: Defendant is awarded the following parcel(s) of real property,
free and clear of any interest of Plaintiff.
_____________________________________________________________________________
_____________________________________________________________________________
☐ Defendant shall be solely responsible for the mortgage; property taxes and all expenses related
to the property and shall indemnify and hold the Plaintiff harmless from any liability on that
debt.
☐ By _______________, Defendant shall pay Plaintiff $_______________ as compensation for
their interest in the property.
400-00878 – Final Stipulation Property/Debts/Spousal Support (02/2019) Page 5 of 7
☐ By _______________, Plaintiff shall sign a quit claim deed transferring their interest in the
property to Defendant.
☐ By _______________, Defendant shall refinance the mortgage on the property releasing
Plaintiff from all liability. The parties shall cooperate in the drafting and execution of all
paperwork necessary to accomplish the refinancing.
☐ Other conditions related to the transfer: __________________________________________
______________________________________________________________________
☐ Neither party shall increase the indebtedness on an equity line of credit or like obligation on
real estate prior to transfer of title without the written consent of the other party.
8. Division of Other Debt (other than mortgages and vehicle debt. Example: Credit cards)
☐ Each party shall be solely responsible for any debts he or she has incurred since the date of separation
and shall indemnify and hold the other party harmless therefrom.
☐ Plaintiff shall have the sole responsibility to pay the following debts and shall indemnify and hold the
Defendant harmless from any liability on that debt.
List each debt and the amount owed:
______________________________ $____________________
______________________________ $____________________
______________________________ $____________________
☐ Defendant shall have the sole responsibility to pay the following debts and shall indemnify and hold
the Plaintiff harmless from any liability on that debt.
List each debt and the amount owed:
______________________________ $____________________
______________________________ $____________________
______________________________ $____________________
☐ Other agreements related to payment of debt: ___________________________________________
__________________________________________________________________________________
9. Spousal Maintenance (Alimony)
☐ Neither party shall pay spousal maintenance to the other.
☐ ____________________shall pay ____________________ the sum of $_______________per
_______________ as spousal maintenance.
The obligation shall terminate:
☐ On _______________, or the death of one of the parties, which occurs earlier.
☐ Upon the occurrence of the following event: __________________________________________
or the death of one of the parties, whichever occurs earlier.
☐ Each year on or before _______________ this obligation shall be adjusted for inflation based on
(Month, Day)
the annual increase/decrease in:
☐ The consumer price index (CPI) published by the U.S. Department of Labor. (For information
about the CPI, check the U.S. Dept of Labor web site: https://www.bls.gov/cpi/ )
☐ Other: _____________________________________________________________________
Parties are encouraged to obtain information about possible tax consequences and changes in tax laws
regarding spousal maintenance.
10. Procedure for Resolving Disputes
400-00878 – Final Stipulation Property/Debts/Spousal Support (02/2019) Page 6 of 7
☐ In the future, if the parties are unable to work out a disagreement related to the terms of this
stipulation on their own, they will attempt to resolve the dispute through mediation before coming
back to Court.
☐ The parties agree to use the following procedure to resolve disputes instead of mediation:
_________________________________________________________________________________
11. Signing of Documents
Unless otherwise specifically provided in this agreement, each party shall, within 30 days, sign and
deliver to the other party any document or paper that is needed to fulfill the terms of this agreement.
12. Name Change
____________________ may resume their former name of: ________________________________
13. Other (check all applicable boxes)
Financial Disclosure:
☐ The parties warrant that they have fully disclosed all of their property, income, assets and debts on
their respective financial affidavit (forms 400-00813A and 400-008131B) and disclosed estimated
values for each asset.
☐ The parties have not filed a financial affidavit with the Court because neither party is required to
pay child support. The parties, however, certify in compliance with Family Rule 4.0(g)(6), that they
have disclosed to each other all financial information including, but not limited to, income, assets
and debts.
Tax Refunds: Any tax refund due or anticipated by the parties resulting from their having filed a joint
federal and/or state income tax return for this or any prior year shall, upon receipt, be endorsed by both
parties and equally distributed between them.
Mutual Releases: Other than as set forth in this agreement or other order of the Court each party agrees
to defend, indemnify and hold the other harmless from any claim related to an obligation for which either
party has accepted responsibility as part of this agreement.
Waiver: Except as provided and as of the date the Final Order and Decree of Divorce is issued, each party
waives and relinquishes any right or claim to the other’s estate, whether statutory or by designation; the
right to be named as administrator or executor of the other’s estate; the right to be the survivor
beneficiary or alternate recipient of any account or policy, and the right to exercise the rights of power of
attorney or health care proxy (“advance directive”) for the other party, except as to any will, estate plan,
beneficiary designation, power of attorney or health care proxy executed after the date of the Final Order
and Decree of Divorce. Each party further waives any interest in any inheritance, gift or bequest received
by the other party at any time.
The terms of this Final Stipulation shall be a charge against the estate of each party to the extent that any
obligations of that party are not met.
Change in Address or Employment: Each party shall promptly notify the other party of any change in their
address or telephone number, and of any material change in employment, as long as there are any
continuing obligations under this decree. ''Material Change'' includes availability of medical, dental or life
insurance and any substantial increase or decrease in earnings or other income.
Miscellaneous: _______________________________________________________________________
____________________________________________________________________________________
Other agreements and provisions are attached hereto and incorporated by reference:
____________________________________________________________________________________
____________________________________________________________________________________
400-00878 – Final Stipulation Property/Debts/Spousal Support (02/2019) Page 7 of 7
We believe that this agreement is a fair and reasonable resolution of all the issues related to our marriage
or civil union. We request that the Court approve the terms of our agreement and incorporate them as part
of a Final Order in this case.
Dated
________________ ___________________________________
Plaintiff’s Signature
Dated
________________ ___________________________________
Defendant’s Signature
Approved as to Form if parties are represented:
___________________________________
Plaintiff’s Attorney
___________________________________
Defendant’s Attorney
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Completed 30 July 2020

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