Wednesday, February 2, 2011

What is a Marital Settlement Agreement?

A Marital Settlement Agreement is a contract between the spouses that divides assets, debts, determines spousal support and child custody issues. Also, the Marital Settlement Agreement lays out the relationship between the two spouses after the divorce.

A Marital Settlement Agreement has many advantages including:

  • Laying out all the terms in writing. This is the primary advantage because it eliminates uncertainty between the spouses and their relationship after the divorce, specifically, this is important where child custody issues arise. 
  • The spouses do not have to go to court. Although it is at the discretion of the court, a judge may honor the agreement between the spouses if the agreement covers all aspects of the divorce.
Spouses can begin the process of negotiating a Marital Settlement Agreement anytime after the filing of the Divorce Petition. Further, the Marital Settlement Agreement can be signed by both spouses any time before a Final Divorce Decree is entered. The Final Divorce Decree is based on the Marital Settlement Agreement. 

If you have any questions about the uncontested/contested divorce process, please  visit www.tonyfamlaw.com for more information. 

1 comment:

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