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Marital Settlement Agreement

A legal document that outlines the terms and conditions agreed upon by divorcing couples regarding property division, alimony, child custody, and support.

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Service Description

A Marital Settlement Agreement (MSA) is a document that outlines the terms and conditions of a divorce settlement between two parties. This agreement is signed by both parties and becomes a legally binding document once it is filed with the court. The MSA can be created with the help of an attorney or it can be a do-it-yourself document.

The MSA typically addresses the following issues:

1. Division of Property: This section outlines how assets and liabilities will be divided between the two parties. This includes real estate, bank accounts, retirement accounts, cars, and other personal property.

2. Child Custody and Support: This section outlines how child custody and visitation will be arranged. It also addresses child support payments, such as who will pay and how much.

3. Spousal Support: This section outlines how spousal support (also known as alimony) will be handled. It includes how much will be paid, how often it will be paid, and the duration of the payments.

4. Taxes: This section outlines how taxes will be filed and who will claim any dependents.

5. Insurance: This section addresses how health, life, and other insurance policies will be handled.

6. Legal Fees: This section outlines who will be responsible for the legal fees associated with the divorce.

The MSA is an important document because it helps to clarify the terms of the divorce settlement. This can reduce the likelihood of future misunderstandings or disputes between the two parties. Additionally, having a clear MSA can help to speed up the divorce process and reduce the costs associated with going to court.

In conclusion, a Marital Settlement Agreement is a legal document that outlines the terms and conditions of a divorce settlement between two parties. It covers issues such as property division, child custody and support, spousal support, taxes, insurance, and legal fees. It is an important document that helps to clarify the terms of the divorce settlement and reduce the likelihood of future disputes between the two parties.

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