Untitled design (29).png

Preparing Your Marital Settlement Agreement

Why is it important to have a marital agreement?

You may be asking yourself, "Do I really need a marital agreement?"

The answer is yes. If you're like most couples, you probably don't even want to think about the possibility of a divorce.

But the fact is, almost half of all marriages in the United States end in divorce.

That's why it's important to have a marital agreement in place. A marital agreement can help you and your spouse address issues before they become problems, and it can help make the process of dissolving your marriage less contentious if it comes to that.

A marital settlement agreement is sometimes known as (MSA) is the document that spells out everything you and your spouse agree to regarding property, custody, and support.

Few people want to think about the possibility of a divorce, but the fact is that over half of all marriages in the United States end in divorce.

No one wants to think about a possible divorce, but the fact is that over half of all marriages in the United States end in divorce. This means that if you are married, it's important to have a plan in place in case things go south.

A marital agreement can help protect both spouses during a divorce. This legal document can outline how assets will be divided, who will pay support and how child custody will be handled. Having a marital agreement can help minimize conflict and ensure that both spouses walk away from the marriage with what they deserve.

Your marital agreement should have the following:

  • How you will share parenting responsibilities and how you will deal with any issues that come up relating to raising your children.

  • How do you intend to divide your property and debts

  • How will you deal with conflicts that arise later?

  • Your agreements about child and spousal support

These usually contain a lot of detail. It is all about making hard decisions and your children.

Preparing Your Marital Settlement Agreement Should Cover:

  • Child Support

  • Spousal Support

  • Health, life, and disability insurance

  • The House and other real estates

  • Cars and other vehicles

  • Household items (furniture and furnishing)

  • Personal items, including clothing, jewelry, tools, and athletic equipment

  • Stocks, bonds, and mutual funds

  • Bank accounts

  • Retirement plans and pensions

  • Family business or professional practice, including accounts payable and receivable

  • Pets

  • Artwork

  • Frequent flier miles, season tickets, and other miscellaneous assets

  • Stock options

  • Bank accounts

  • Parenting (separate parenting agreement should accompany MSA)

  • Name changes (you, your spouse, or the children)

  • Credit cards and other debts

  • Tax payments and distribution of refund

  • Fees for mediation, lawyers, and counselors

  • Social Security benefits

  • Modifying the agreement later

  • How disputes will be resolved

  • Which state’s law will govern the event of a dispute