When two people decide to divorce and agree on how to divide their lives, the document that puts that agreement in writing is called a Marital Settlement Agreement. It is one of the most important legal documents in any Florida divorce.
What Is a Marital Settlement Agreement?
A Marital Settlement Agreement — sometimes called an MSA — is a binding legal contract between divorcing spouses that resolves all issues in the divorce, including the division of assets and debts, alimony (if any), and in cases with children, child support and custody arrangements. Once signed by both parties and approved by the court, it becomes a court order.
What Does a Marital Settlement Agreement Cover?
• Division of real estate — the marital home, investment properties, and any other real property
• Division of bank accounts, investment accounts, and retirement accounts
• Division of personal property — vehicles, furniture, jewelry, and other belongings
• Allocation of marital debts — mortgages, credit cards, loans
• Alimony — whether it will be paid, the amount, and the duration
• Child support and the child support guidelines worksheet (if applicable)
• Any other issues specific to the marriage
Is a Marital Settlement Agreement the Same as a Divorce Decree?
No. A Marital Settlement Agreement is the contract between the two parties. A Final Judgment of Dissolution of Marriage — the divorce decree — is the court order that officially ends the marriage. The judge incorporates the Marital Settlement Agreement into the Final Judgment, making its terms enforceable as a court order.
Can a Marital Settlement Agreement Be Modified Later?
Once approved by the court, a Marital Settlement Agreement is very difficult to modify — particularly the provisions relating to property division. Provisions relating to children — such as child support and parenting plans — may be modified if there is a substantial change in circumstances. This is why it is so important to get the agreement right from the start.
Do Both Spouses Need an Attorney?
While Florida law does not require both parties to have separate attorneys, it is strongly recommended. A Marital Settlement Agreement is a binding legal contract with long-term financial consequences. Each party having independent legal advice protects both parties and reduces the risk of future disputes or challenges to the agreement.
Important: Attorney Irizarry represents one party only. The other spouse is encouraged to seek independent legal counsel before signing any agreement.
Have Questions? We Can Help.
Attorney Erica Irizarry offers free, confidential consultations for all family law matters. Call 656-206-0609or complete our online intake form to get started today.
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