A Marital Settlement Agreement is used in straightforward divorces to split a marriage’s property, assets, and obligations.
A Marital Settlement Agreement is a document used in straightforward divorces to split a marriage’s property, assets, and obligations. It outlines both parties’ rights and resolves problems such as child custody and marital compensation. This document is also known as a “marital separation agreement,” a “property settlement agreement,” or a Divorce Settlement Agreement.
Divorce processes vary by state, and you should familiarize yourself with them before drafting your Marital Settlement Agreement. Any compensation deal, however, should include the following provisions:
Visitation and possession of children
Child maintenance
Support for the spouse
Property division Asset division Division of domestic goods and possessions
Division of credit Division of debt
Health-care resolution
Change of legal identity
If the court determines that the settlement arrangement is reasonable to both parties (note: “fair” does not always imply “equal”), he or she will grant your divorce according to the conditions of the settlement.
