A marital settlement agreement is an agreement entered into by parties who are contemplating or in the midst of a divorce. It sets out how the property the parties own together will be divided, and confirms to each party their separate property. It provides what support will be paid, if any, from one party to the other, and who will pay the attorneys’ fees either party has incurred in the legal proceeding. It can also set out parenting agreements for the parties’ children, and what child support, if any, will be paid.
Because of the complexity of California law on community property, support, and the disclosure requirements needed to make any agreement enforceable in the future, a marital settlement agreement should be tailored to each party’s particular circumstances and prepared by an attorney with genuine expertise in California family law.
If both parties have qualified attorneys representing them in drafting and negotiating a marital settlement agreement, thousands of dollars can be saved in litigation and other legal costs. Research has also shown that when parties work out their own agreement, rather than having a result imposed on them by the court, there is a significantly higher degree of compliance with the agreement reached.