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The purpose of a divorce settlement agreement is to memorialize any agreements reached between divorcing (or separating) spouses as to child custody, child support, alimony (also referred to as spousal support or maintenance), and the division of property.
Both parties must sign the agreement and have their signatures witnessed by a notary public or deputy clerk. After completing this form, you should file this document with the clerk of the circuit court in the county where the petition was filed and keep a copy for your records.
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.
It depends on the state. You are not required to get a marital settlement agreement in the state of Pennsylvania, for example. If you do not have any marital property, joint debt or children together under the age of 18, then you probably do not need one.
It deals with child custody and visitation, child support, alimony, health and life insurance, real estate, cars, household items, bank accounts, debts, investments, retirement plans and pensions, college tuition for children, and other items of value, such as frequent flyer miles and country club memberships.

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As experienced divorce attorneys, we know that enforcement of settlement agreements typically requires filing a request with the court so that the spouse who is not in compliance will go before a judge who will order him or her to comply with the terms set forth in the agreement.
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.

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