Marital property and settlement agreements play a key role in the divorce process, helping spouses divide assets, debts, and responsibilities in a fair and organized manner. Marital property generally includes all assets and debts acquired by either spouse during the marriage, such as homes, vehicles, income, retirement accounts, and even certain types of debt. Separate property—like gifts, inheritances, or assets owned before the marriage—typically remains with the original owner, unless it has been mixed with marital assets.

A marital settlement agreement (MSA) is a written contract between divorcing spouses that outlines the terms of their divorce, including how marital property will be divided, child custody and support, alimony, and any other relevant matters. This agreement is often reached through negotiation or mediation and, once approved by the court, becomes legally binding. Settlement agreements can help avoid lengthy court battles and give both parties more control over the outcome of their divorce. By clearly defining each party’s rights and responsibilities, MSAs promote smoother transitions and reduce post-divorce conflicts.