What is a marital settlement agreement?

A marital settlement agreement is a legally binding document that is filed in court to settle the terms of a divorce, such as division of assets, division of debt, and any other matters, such as spousal maintenance (alimony). This agreement is an essential part of the divorce process in the state of Washington and must be agreed upon by both parties in order to move forward with the divorce. Marital settlement agreements can be complicated documents and it is important to understand all of the terms. Generally speaking, a marital settlement agreement includes the division of all assets, including real estate, stocks, bonds, retirement accounts, furnishings, vehicles, and any other assets or debts owned by the couple. It also includes language regarding spousal maintenance and/or child support, as well as any other matters pertinent to the divorce. Once the marital settlement agreement has been finalized, it must be reviewed and signed by both parties and a court can then incorporate the agreement into the official divorce documents. In Washington, both parties must attend a court hearing in which they will enter their agreements into the court record, officially completing their separation. After the court approves the agreement, both parties must adhere to the terms outlined within the agreement.

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