A marital settlement agreement, as the title implies, is simply a contract that you and your spouse enter into, and it’s binding just like any other contract.
The marital settlement agreement typically resolves all issues related to your marriage before you obtain your divorce. It can include matters such as the division of property, custody and visitation arrangements, child support, and spousal support. It may also include waivers of rights to any or all of these issues, except for child support, which cannot be waived because it is the child’s right, not the parents’ right.
Once you successfully negotiate and settle your case, your attorney will typically prepare the marital settlement agreement (or property settlement agreement), which you and your spouse will sign and then file with the court.