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In this video, Jeanette Soltys from Atlanta Divorce Law Group explains the divorce settlement agreement, which is a detailed document that outlines the terms of a divorce. For couples without children, the agreement is simpler, covering asset division, debt division, and possibly alimony. For those with children, the document becomes more complex, incorporating custody, visitation, and child support arrangements. A parenting plan is also included, specifying legal custody, joint decision-making responsibilities, and final decision-making authority in cases where parents cannot agree on child-related issues.