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Marital settlement agreements, also known as divorce settlement agreements , marital termination agreements , separation agreements, or stipulations of settlements, are written contracts between divorcing spouses of their responsibilities and rights after divorce . Once formed, both parties are legally bound to them.
In Australia, asset division during a divorce aims to achieve a fair and equitable outcome for both parties. While an average split of 50-65% is common, circumstances can sometimes result in a 70-30 division. The distribution may vary based on several factors.
While parties can negotiate settlement agreements on their own, having a lawyer can be highly beneficial, especially in complex cases like medical malpractice or intricate employment disputes.
[1] A consent decree is a negotiated agreement entered as a court order that is enforceable by the court. A settlement agreement is an out-of-court resolution that requires a signed agreement, or memorandum of understanding, and performance by the defendant.
You can think of the marital settlement agreement as the preliminary process required when getting divorced. On the other hand, a divorce decree legally mandates that you are divorced in the eyes of the law.
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Generally, this is agreement resolves all rights and obligations that apply in your case. It should include ALL items listed in the PETITION and the RESPONSE, if one was filed. These items include division of property, child custody and visitation, along with child and spousal support.
The question, What is a divorce settlement? usually refers to the MSA and not the decree. In terms of timelines, a marital settlement agreement occurs before the divorce decree. Only a court can issue a divorce decree, and it happens at the end of the separation process.

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