What is a Marital Settlement Agreement?
A marital settlement agreement is a contract where a husband and wife have agreed to the terms of their divorce. Typically, a marital settlement agreement addresses the issues of personal property, real,property, bank accounts, retirement accounts, vehicles, debts, child support, time sharing with children, and alimony.
The agreement on each of these issues can be very complex or very simple . What matters is that there is an agreement.
The purpose of having a marital settlement agreement is to take the decision making power away from the judge. Having a marital settlement agreement will typically allow you to get divorced in less time and with lower legal fees.