Marital Settlement Agreements
Although spouses are not always able to agree on an amicable resolution of their matters—a situation often resulting in court proceedings. In many divorce proceedings the parties will be able to reach a cordial settlement of all claims. Often, settlement is then memorialized in a written marital settlement agreement (also known as a property settlement agreement). The agreement is designed to outline all assets and debts held by the parties and provide details of a final distribution. The Agreement often includes resolution of issues related to alimony, alimony pendente lite/support, child support, and other rights. The agreement is only drafted after much discussion and negotiation and, therefore, reflects the definitive decision of the parties in terms of the settlement of their marital estate. A marital settlement agreement is considered a binding document by which the parties are required to abide and therefore must be carefully reviewed by each spouse and his or her attorney before signing.
Due to the important and sometimes complex nature of these agreements, the client is best served in having the agreement drafted by an experienced family law attorney skilled in these matters, such as the divorce attorneys at MacElree Harvey.
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