What Is a Marital Settlement Agreement?

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Most divorces will not end up going to trial. If they do, the hearing will address the issues on which the parties are unable to agree. Many divorces will end with a marital settlement agreement, which is a legally binding contract between the two parties that gets filed with the court. It will become part of the court order when the judge enters the divorce.

The marital settlement agreement will lay out all issues that impact the end of the marriage and the parties’ future relationship to each other, including:

  • Child support
  • Custody
  • Division of assets
  • Who gets the family home
  • Visitation for the children
  • Spousal support

Any of these issues can be contentious. It is rare that both parties will begin on the same page, which is why they will need to negotiate. If they try to speak directly, emotions may get in the way, and the couple could quickly find themselves in a hostile situation. Securing the help of an experienced attorney in divorce negotiations is always a good idea.

Compromise and Negotiation Help You Reach an Agreement

In the end, a marital settlement agreement represents a series of compromises between the spouses to set the terms to end the marriage. Essentially, this will serve as a roadmap for your post-divorce life, as it relates to the other spouse financially and the children. It is essential to take your time to negotiate this right and get the legal advice you need. While you will not be able to get everything that you want, you still need to be in a realistic and bearable situation after the divorce.

Each party must live up to the terms of the marital settlement agreement. Not only is it a binding contract, but it is also enforceable by the court. If one party fails to fulfill their end of the bargain, they could end up in contempt of court and may even receive jail time. In other words, you must continue to pay attention to what your obligations are. If the agreement requires you to divide your retirement account, you must follow through with it. If you are required to sell or transfer a certain asset, you are obligated to do so. Otherwise, the other spouse could take you to court, and there could be consequences.

Greenville Divorce Lawyers

Before you negotiate a marital settlement agreement, it is in your best interests to hire a lawyer. We can handle the details of the agreement and let you know of things that you should consider. Call the law firm of Bannister & Wyatt today at (864) 523-7730 or contact us online to discuss your family law matter.

FAQ

What if we cannot reach a marital settlement agreement?

Your case will end up in court at a hearing in front of a judge.

Why do I need a divorce lawyer?

Handling your own divorce entails many risks, including the fact that you may not be able to put your own emotions aside.

How does the court decide custody issues?

The judge will apply the best interests test to decide everything relating to the children.

Why Choose Bannister, Wyatt & Stalvey Law Firm?

With the experience to address complex family law, criminal defense, and real estate matters, our knowledgeable team of attorneys are here to advocate for you. We operate our law offices on three main principles:

Trust.

We strive to establish personal trust with each and every client.

Integrity

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Excellence

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Get in touch with us today to evaluate your case. We’re only a call, click, or short drive away.