Marital Settlement Agreement

Marital Settlement Agreement

Drafts a binding MSA resolving all divorce issues — property, support, custody — ready for court approval and incorporation into the final decree.

Prerequisites

Gather before drafting:

1. Financial disclosures — income statements, tax returns, account statements for both parties
2. Property docs — appraisals, deeds, titles, retirement statements, business valuations
3. Debt records — creditor statements with account numbers and balances
4. Custody materials — evaluations, existing parenting plans, school/medical records
5. Prior agreements — prenuptial agreements, temporary orders, mediation outcomes
6. Jurisdictional info — filing state, county, case number, community vs. equitable property regime

Workflow

Step 1 — Property Division (Article I)

Marital Property Schedule — itemize each asset:

Marital Debt Schedule — itemize each debt: creditor, account #, balance, responsible party, hold-harmless obligation.

Separate Property Confirmation — list each party's separate property (pre-marital, gift, inheritance) with mutual disclaimer of interest.

Step 2 — Spousal Support (Article II)

Draft one of:

A. Support ordered — specify: monthly amount, due date/method, duration, modifiability, step-down schedule, COLA, termination events (death, remarriage, cohabitation), tax treatment (post-TCJA: non-deductible/non-includable federally).

B. Mutual waiver — explicit knowing waiver of all current and future support rights with acknowledgment of consequences.

Step 3 — Children (Article III)

Custody & Parenting Plan:

• Legal custody — joint/sole; decision domains (education, healthcare, religion)
• Physical custody — primary placement, weekday/weekend rotation
• Holiday/vacation schedule — odd/even alternation, notice requirements
• Transportation, communication with non-custodial parent
• Relocation — notice period, mileage threshold, consent/court approval
• Attach detailed parenting plan as exhibit

Child Support:

• Monthly amount with guideline calculation per state formula
• Health insurance responsibility and cost allocation
• Uninsured medical and childcare cost splits
• Duration (age of majority / HS graduation per state law)
• Post-secondary contribution terms if agreed
• Modification standard (material change in circumstances)

Step 4 — General Provisions (Article IV)

Include all:

• Mutual releases — all claims except those preserved in this agreement
• Representations — full disclosure, opportunity for independent counsel (or knowing waiver), voluntary execution, fairness acknowledgment
• Attorney's fees — each bears own; prevailing party in enforcement recovers fees
• Dispute resolution — mediation before litigation; specify enforcement jurisdiction
• Severability, governing law, integration, amendments (written, signed by both)

Step 5 — Execution Block

Include signature lines for both parties with dates, approval-as-to-form lines for counsel, and notary acknowledgments if required by local rules.

Pitfalls

• Regime mismatch — confirm community property vs. equitable distribution; adapt division framework
• Child support math — always show state guideline calculation; courts reject unexplained deviations
• Child support is non-waivable — courts will not enforce waiver of a child's right to support
• QDRO requirement — flag every retirement account division needing a Qualified Domestic Relations Order
• Tax treatment — post-TCJA (2019+): alimony non-deductible/non-includable federally; verify state conformity
• Pension tracing — distinguish community interest from separate contributions; use time rule or applicable tracing method
• Specificity — use exact amounts, dates, account numbers, legal descriptions; vague terms invite post-decree litigation
• Exhibit cross-references — verify every exhibit letter/number matches its attachment
• Filing readiness — include caption, case number, proper pagination, TOC for lengthy agreements