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In divorce proceedings, pets are legally treated as property, which can lead to only one party being awarded ownership. Attorney Max Ruthenberg Marshall emphasizes the importance of creating a pet custody agreement to maintain a relationship with pets after separation. This agreement acts as a contract that allows for joint ownership of the pet. Key elements of a pet custody agreement include the identification of the pet, the responsibilities of each party regarding the pet's care, visitation schedules, and financial obligations related to pet expenses. By formalizing these details, couples can ensure both parties remain involved in their pet's life post-divorce.