What is a Marital Settlement Agreement?
If you’re like many people going through a divorce, you already know how difficult it is. When you’re expected to see eye-to-eye with your ex to reach agreements on important issues, it can be even harder. But your divorce attorney might suggest that you and your soon-to-be ex-spouse work together to create a marital settlement agreement – and that’s in your best interest.
Here’s what you need to know.
What is a Marital Settlement Agreement?
A marital settlement agreement is a written agreement between a married couple that resolves all the important issues, such as:
- Child custody and placement
- Property division
- Division of debts
- Spousal maintenance
Does a Marital Settlement Agreement Need to Be Notarized?
Usually, a marital settlement agreement does not need to be notarized in Wisconsin. However, your divorce attorney will be able to provide you with case-specific guidance.
Is a Settlement Agreement the Same as a Divorce Decree?
A marital settlement agreement is not the same thing as a divorce decree. Your settlement agreement will outline what you agree to do, take or receive once your divorce is complete. A divorce decree is a court order that ends your marriage (at which point, you’re responsible for upholding your marital settlement agreement).
Is it Better to Settle Divorce Out of Court Through Your Own Marital Settlement Agreement?
For many people, it’s far better to come up with a marital settlement agreement than to litigate a divorce case in court. That’s because you’ll save time and money by coming up with your own agreement (or even by using a mediator to find common ground). Additionally, you and your ex-spouse will both have a hand in the outcome of your case, so you’re more likely to be reasonably satisfied with the outcome.
Do You Need to Talk to an Attorney About a Marital Settlement Agreement?
If you’re considering divorce, or if your spouse has already filed, we may be able to help you. Call us right away at 414-383-6700 to schedule your free consultation now. We’ll listen to your situation and help you get the best possible outcome.