What Is a Marital Settlement Agreement?
A Marital Settlement Agreement is a written contract between spouses that details how they will divide marital property, handle debts, arrange for child custody and support, and address other important matters related to the divorce.
Once both parties sign the agreement and the court approves it, the MSA becomes a legally binding part of the final divorce judgment. That means both spouses are required to follow the terms, and failing to do so could have legal consequences.
What an MSA Typically Covers
Every couple’s situation is different, but most MSAs address several common issues, including:
- Division of assets and debts: This includes the home, vehicles, bank accounts, credit cards, and other marital property or liabilities.
- Spousal support (alimony): The agreement can specify if one spouse will pay alimony, how much, and for how long.
- Child custody and support: If the couple has children, the MSA can establish parenting time, decision-making authority, and financial support responsibilities.
- Retirement accounts and insurance: It’s common for agreements to include details about pensions, 401(k)s, life insurance policies, and health coverage.
A clear and detailed MSA helps prevent confusion and conflict later. It also gives both spouses more control over the outcome rather than leaving those decisions to a judge.
Why an MSA Is So Important
Negotiating an MSA can make the divorce process faster, less expensive, and less stressful. It gives both parties the opportunity to work together to find solutions that fit their lives rather than having the court impose a one-size-fits-all ruling.
Even in cases where communication is difficult, mediation can often help spouses reach an agreement. Once signed and approved, the MSA provides closure and a sense of certainty about the future.
Enforcing or Modifying an MSA
After the court finalizes the divorce, the terms of the MSA are enforceable just like any other court order. If one spouse fails to follow the agreement, the other spouse can ask the court to enforce it.
In some cases, an MSA can be modified later, but only under specific circumstances. For example, changes in income, health, or living arrangements might justify modifying alimony or child support terms.
Protecting Your Rights
It’s important to remember that once you sign an MSA, it’s legally binding. Before signing, make sure you understand every term and how it affects your financial future. Even small oversights can have long-term consequences.
An experienced family law attorney can help review or draft your Marital Settlement Agreement to ensure your rights are protected and the terms are fair. They can also identify potential issues and prevent costly mistakes.
Work with an Experienced Attorney
A Marital Settlement Agreement can make your divorce more efficient and give you control over how major decisions are handled. However, because it’s a legally binding contract, it’s crucial to get legal guidance before signing.
If you’re preparing for divorce in Florida and want to learn more about creating a fair and enforceable Marital Settlement Agreement, the Law Offices of Robert M. Geller can help. Our team will walk you through your options, explain your rights, and ensure your agreement reflects your best interests.
