What Is A Marital Settlement Agreement?
A marital settlement agreement is known by several different titles across the U.S. Some states refer to this arrangement as either “separation agreements” or “divorce settlement agreements”. Let’s take a look at what these agreements include and how to ultimately finalize one when going through a divorce.
What Does A Marital Settlement Agreement Include?
A marital settlement agreement (MSA) is entered into by a divorcing couple. It is a legally-binding, written contract. This agreement will solve issues related to a couple’s divorce. Let’s take a look at a few things typically included in a marital settlement agreement.
Child Support
Child support is typically determined by using state-specific guidelines to help parents determine the appropriate amount of child support needed.
Custody And Visitation
This is usually part of a parenting plan or custody and visitation agreement attached to the marital settlement agreement.
Division Of Property And Debts
The division of marital property and debts will ultimately depend on whether the state follows a “community property” or “equitable distribution” model for property division.
Alimony
Also referred to as spousal support, spouses can negotiate amount and duration of alimony payments. While there are no set rules for calculating alimony, some states do have formulas to help determine alimony figures.
How To Reach A Marital Settlement Agreement
There are some couples that can reach agreements on all divorce-related issues on their own. Some may even be savvy enough to draft up their own written agreement. However, couples that have many children and assets should opt for professional help.
Even if you plan on writing up your own agreement, you and your spouse can hire one attorney to represent both parties. An experienced attorney can explain your legal rights and responsibilities as they relate to all aspects of the agreement. Once both parties have a clear understanding of all the rights, you will be in a better position to make important legal decisions.
Your attorney can take the lead on drafting, reviewing, and revising the agreement, negotiating on your behalf, if needed. Hiring an experienced attorney can help ensure your agreement will hold up in court.
Enforcing A Marital Settlement Agreement
Enforcing this agreement must be done by filing a formal request or motion within the court. You will need to show the court how your ex-spouse failed to follow the agreed upon terms of the agreement. There are several reasons why you may need to ask the court to assist you in enforcing the agreement, including the following:
- One spouse failed to maintain health, dental, or life insurance policies.
- One spouse failed to make spousal or child support payments.
- One spouse is in default on the mortgage payment.
- One spouse failed to pay for children’s education and expenses.
Do You Need A Marital Settlement Agreement When Getting Divorced?
You can finalize a divorce without a marital settlement agreement or any other agreement. You will simply need a written divorce judgement signed by a judge.
If you have reached a settlement, the agreement will be made part of the divorce judgement. If you haven’t settled all the issues in the divorce, however, you will have to go to trial. Following the trial, the judge will make decisions about any unresolved issues. A judgement will then be signed to reflect those final decisions.
Source:
- “Marital Settlement Agreements.” DivorceNet https://www.divorcenet.com/resources/divorce/divorce-basics/how-enforce-a-marital-settlement-agreement
Collaborative Divorce And Child Custody
Discussions about child custody issues are always difficult during a divorce. While there is no way to make them easy or comfortable, you can find ways to work together. The collaborative divorce process helps with tools and professionals to make child custody and other decisions a little more manageable. By working together as a team, you’re able to make the decisions that are best for the kids.
Collaborative divorce can make these challenging times more manageable. It requires you to work with your spouse at a time when you have decided you need to go your separate ways. When it comes to child custody, though, you want to do all you can to make the right parenting decisions. Collaborative divorce can help create pathways for you to cooperate. If you live in the Phoenix/Scottsdale area and want to learn more about collaborative divorce, contact Ogborne Law today.
