What Is a Marital Settlement Agreement (MSA)?

An MSA is an agreement between two parties who are seeking a divorce. MSAs are tailored to the individual needs of the divorcing couple, including provisions for the division of real estate, personal property, financial accounts, retirement accounts, issues related to child custody and support, and maintenance.

What are the benefits of a Marital Settlement Agreement (MSA)?

Marital Settlement Agreements (MSAs) offer several benefits in divorce cases. They reduce time spent in court, lower legal fees, and often result in less hostility between the parties. An MSA allows divorcing couples to reach a faster resolution by agreeing on terms outside of court, which can also create a healthier environment for any children involved. Additionally, uncontested matters with an MSA typically require only one court appearance, saving both time and money. In contrast, contested divorces involve multiple hearings, more attorney hours, and higher costs. An MSA also promotes a peaceful post-divorce relationship, reducing conflict in future interactions.

Anderson Boback & Marshall

Benefits of a Marital Settlement Agreement

Published August 6, 2024

Categorized as Divorce Process, Illinois Divorce

In most divorce cases, parties settle their disputes through agreements rather than going to trial, a practice promoted by the Illinois Court system. Specifically, Section 502 of the Illinois Marriage and Dissolution of Marriage Act (IMDMA)(750 ILCS 5/502) provides that parties may enter into agreements to resolve issues pertaining to the dissolution of their marriage.

Planning to Remarry? Advice From a Divorce Lawyer

Published August 5, 2024

Categorized as Divorce

Are you thinking about getting married again? It’s a big step that deserves careful thought, especially if you have been married, and divorced before. This guide isn’t just a list of to-dos; it’s here to help you explore important questions and considerations if you are planning to remarry after a divorce and to make sure

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Month: August 2024

Benefits of a Marital Settlement Agreement

Planning to Remarry? Advice From a Divorce Lawyer

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