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A marital settlement agreement is a divorce contract that outlines the division of property, liabilities, alimony, and child support arrangements before filing for divorce and seeking court approval. This video tutorial discusses the purpose of marital settlement agreements and provides information on obtaining free official templates. It emphasizes the importance of understanding how to begin the divorce process and negotiate terms. Key steps include hiring a divorce attorney to ensure fair terms, gathering financial information such as tax returns, assets, liabilities, and income, and scheduling meetings with both spouses to facilitate negotiations.