Below is an overview of what a Marital Settlement Agreement (sometimes called a “divorce agreement,” “separation agreement,” or “property settlement agreement”) typically is, what it must contain to be enforceable, and a sample outline of its provisions. This is for informational purposes only; you should consult an attorney in your jurisdiction for legal advice or a fully tailored document.
1. What Is a Marital Settlement Agreement?
A Marital Settlement Agreement (MSA) is a written contract entered into by spouses who are divorcing (or legally separating) that resolves—without further litigation—their rights and obligations regarding:
• Division of marital and separate property and debts
• Spousal (alimony) support
• Child custody, visitation (parenting time), and decision-making authority
• Child support
• Insurance and retirement benefits
• Taxes and tax filings
• Attorneys’ fees and court costs
Once signed and incorporated into a final judgment or decree, the MSA becomes a binding court order.
2. Key Requirements for Enforceability
• Voluntary execution by both parties, without fraud or duress
• Full and fair financial disclosure by each spouse (assets, debts, income)
• Terms that are clear and not unconscionable under applicable state law
• Signatures of both parties (and in many states, notarization or court-approved form)
• Incorporation by reference into the divorce decree or a separate court approval
3. Typical Sections/Outline of an MSA
1. Preamble and Definitions
– Identification of the parties (names, dates of marriage)
– Definitions of “marital property,” “separate property,” “children,” etc.
2. Recitals (Background)
– Marriage date, separation date (if any), intent to divorce/separate
3. Jurisdiction and Governing Law
– Statement that the agreement is governed by state/federal law where the divorce is filed
4. Division of Assets and Liabilities
– Real estate (marital home, vacation homes)
– Bank accounts, investment accounts, retirement plans (401(k), IRAs, pensions)
– Business interests or professional practices
– Personal property (vehicles, jewelry, furniture, collectibles)
– Allocation of debts (mortgages, credit cards, loans)
5. Spousal Support (Alimony)
– Amount, duration, termination events (remarriage, cohabitation, death)
– Method and date of payment
– Tax treatment of support payments
6. Child Custody and Parenting Plan
– Legal custody (decision-making) and physical custody (residential schedule)
– Holiday schedule, school breaks, transportation responsibilities
– Dispute-resolution protocols (mediation, arbitration)
7. Child Support
– Calculation method and payment schedule
– Health insurance, child care expenses, extracurricular activities
– Tax exemptions and credits
8. Insurance and Benefits
– Health, dental, life insurance coverage for spouses and children
– Continuation under COBRA or substitution of private plans
9. Tax Matters
– Who claims children as dependent exemptions
– Filing status for current and prior tax years
– Treatment of deductions (mortgage interest, property taxes)
10. Attorneys’ Fees and Costs
– Each party’s responsibility for their own counsel fees or fee-shifting arrangements
11. Confidentiality (for high-profile clients)
– Mutual confidentiality or non-disclosure of terms and negotiations
– Liquidated damages for breach
12. Miscellaneous Provisions
– Entire agreement clause (supersedes prior agreements)
– Amendment procedures
– Severability (if a clause is invalid, the rest remains effective)
– Notices (how to serve legal notices)
13. Signatures and Notarization
– Signature blocks for both parties (and attorneys, if required)
– Date of execution and notary acknowledgments
4. Practical Tips
• Early full financial disclosure avoids later claims of fraud or unfairness.
• If children are involved, courts will review custody/support provisions for “best interests” compliance.
• Spousal-support waivers are scrutinized for voluntariness; consider independent counsel.
• High-asset divorces often require business valuations, forensic accounting, specialized trusts.
• Custom confidentiality clauses can protect reputation and private family details.
5. After Signing
• File the agreement with the family court or request the judge to “so order” it as part of the final judgment.
• Follow local court rules for submission (e-filing, courtesy copies, cover sheets).
• Keep certified copies of the judgment and agreement in a safe place.
Remember: an MSA becomes enforceable once incorporated into a final divorce decree. For a fully customized draft or review, always consult a family-law attorney licensed in your state or country.
