Marital Settlement Agreements

Divorce proceedings can be especially taxing for individuals and families due to high court costs and the emotional stress that may result from the rulings. That’s why couples seeking a divorce should first try to determine each individual’s rights pertaining to divisions of property, assets, debt, as well as issues concerning child custody and alimony.

One way to address these factors is by creating a marital settlement agreement.

What is a marital settlement agreement?

Also known as a “marital separation agreement”, a “property settlement agreement”, or a “divorce settlement agreement”, a marital settlement agreement is a contract between the two divorcing parties which outlines the specifics of their legal separation.

It is created through mutual collaboration between the two individuals as well as an attorney and helps to limit uncertainty when it comes to the end results of the legal divorce.

Benefits

A few advantages of creating an airtight marital settlement agreement are that the outcome of the divorce proceedings will not come as a surprise to the parties involved.

Court fees will also likely be much lower as a judge might only need to honor the agreement in order for the divorce to be final.

The case will also likely not take nearly as long if the agreement is well-constructed and has an appropriate scope.

What kinds of topics does it cover?

Marital settlement agreements are well-constructed legal documents that should outline a wide range of topics so that there is as little uncertainty regarding the divorce outcomes as possible. Some topics that should be covered are:

  • Division of credit, debt, property, assets, valuables and household items
  • Child custody, support, and visitation
  • Spousal support
  • Legal name changes
  • Healthcare resolution

Your particular situation may call for addressing other topics but most parties will find the resolution of these core factors needs to be fully determined in order for a judge to deem the agreement fair and thus grant the divorce according to these terms.

If creating a marital settlement agreement sounds right for your situation, feel free to contact us to begin the process.