What is a marital settlement agreement?

A marital settlement agreement is a legally binding contract that outlines the responsibilities and rights of two spouses in a divorce. It is often referred to as a “property settlement agreement” or “separation agreement.” In South Carolina, a marital settlement agreement legally separates two spouses, and provides information on both of their rights regarding any matters pertaining to the divorce, such as the division of property, alimony, child custody, and child support. The agreement is typically created by a family law attorney who will work with the two spouses to outline the financial considerations of the agreement. It must be signed by both parties and submitted to the court where it will be reviewed and, if approved, will be legally binding. The marital settlement agreement is one of the most important parts of a divorce in South Carolina as it will protect the rights of both parties during the divorce process.

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