Marital Settlement Agreements, sometimes referred to as an MSA, are a part of the divorce process. Briefly speaking, the Marital Settlement Agreement is a document that states facts about the marriage and divorce that both parties agree on. It is an agreement that spells out the terms of the divorce and the relationship between the two spouses after the divorce.
Due to the specialty of each case, issues included in the Marital Settlement Agreement may vary but can be any of the following; custody, visitation, support, property division, debt division, or other similar issues. A Marital Settlement Agreement should be outlined to meet the needs of the specific parties involved. It is important to know what issues to address when discussing the MSA. This is key, especially because it will be difficult to amend it once it is finalized by the court.
The following are typical contents of a Marital Settlement Agreement:
• Identified facts of the marriage and include statistical facts
• Document and identify property, distribution of community estate, and confirmation of separate property.
• Prearrangement for payment of debts and adjustment of reimbursement claims.
• Custody of children and visitation rights.
• Child support, including prearrangement for medical, dental, and special educational or other needs
• Spousal support (including, if relevant, prearrangements for life insurance, survivor annuities) or a waiver of spousal support.
• Tax arrangements and warranties
When you are looking for a divorce lawyer, keep in mind the need to find a lawyer who understands the details of a Marital Settlement Agreement in order to make the process as easy to understand and take care of. Be sure to find a divorce lawyer who is competent, experienced and will take a strategic approach to the Marital Settlement Agreement.
Contact Thorsteinson Law Group for your complimentary consultation today. We are experienced divorce lawyers dedicated to helping you through your divorce.