A divorce settlement agreement is the legal document that finalizes how divorcing spouses divide assets, debts, responsibilities, and parental duties.
In Illinois, this is also known as a Marital Settlement Agreement (MSA). Whether your divorce is amicable or contentious, the MSA outlines the terms of your separation—and courts typically won’t finalize a divorce without one.
If you need help creating or negotiating a Marital Settlement Agreement for your divorce, contact The Rogoff Law Group at 847-768-2194. Our divorce attorneys have over 30 years of combined experience in family law cases, and we’ll make sure your interests are protected.
Why Divorce Settlement Agreements Matter in Illinois
In most divorce cases, regardless of how cooperative or contested they begin, parties ultimately reach a settlement through negotiation, mediation, or attorney involvement. Once signed, the divorce settlement agreement becomes binding. Courts generally approve these agreements unless they are clearly unfair to one party.
If either spouse violates the agreement’s terms, the consequences may involve legal enforcement, financial penalties, or a return to court. Even in uncontested divorces where both parties agree on everything, the court still requires a written agreement before granting a final judgment of dissolution.
Is a Divorce Settlement Agreement Required in Contested and Uncontested Divorces?
Yes—whether a divorce is contested or uncontested, a divorce settlement agreement is typically required before the court will finalize the dissolution. In uncontested divorces, both parties usually agree on the terms early and submit the agreement without much legal back-and-forth. In contested divorces, spouses often begin at odds but ultimately resolve their differences through negotiation, mediation, or attorney guidance.
Most contested divorces never reach trial. Instead, the parties eventually sign a written agreement that outlines how they will divide assets, handle custody, and address financial obligations. Only a small percentage of divorces go to court, where a judge makes the final decisions after reviewing evidence and hearing arguments.
Key Components of a Divorce Settlement Agreement
Most divorce settlement agreements include similar elements, tailored to the couple’s situation. Here are the main areas covered.
1. Asset and Debt Division
Every divorce settlement agreement should clearly spell out how both parties will divide shared and individual financial responsibilities. This section prevents future disputes by listing which spouse gets what and who is responsible for ongoing obligations.
- Houses, real estate, and vehicles
- Bank accounts and cash holdings
- Retirement accounts and pensions
- Business interests or ownership stakes
- Debts such as credit cards, loans, and mortgages
- Tangible assets like furniture, electronics, or valuables
2. Parenting Plan (If Children Are Involved)
When minor children are part of the divorce, the parenting plan is essential. It outlines how legal and physical custody will be shared—or not—and provides a detailed roadmap for co-parenting moving forward.
- Allocation of parental responsibilities (decision-making authority)
- Residential schedule and parenting time
- Holiday, vacation, and transportation arrangements
- Guidelines for communication between co-parents and with the children
3. Child Support
This section ensures children receive the financial support they need to thrive. The divorce settlement agreement should detail the basic child support obligations and any additional expenses not covered by the statutory formula.
- Base child support amount
- Start and end dates for payments
- Frequency and method of payment
- Health insurance costs for the children
- Add-ons: child care, uninsured medical expenses, school tuition, and extracurricular costs
- How these add-on payments will be made (directly to the provider or the other parent)
4. Spousal Maintenance (Alimony)
When alimony is awarded, spousal maintenance provides financial support to one spouse during or after divorce. The agreement must establish clear expectations to avoid future legal battles.
- Type of maintenance: reviewable, fixed-term, indefinite, or reserved
- Payment start and end dates
- Payment frequency and method
- Life insurance requirements (if any)
- Maintenance termination events (e.g., remarriage, death, or a specified date/event)
5. Income Tax and Financial Responsibilities
Divorce doesn’t just affect your family structure. It impacts your taxes, too. The settlement agreement should clarify how tax-related matters will be handled going forward.
- Which parent claims children as dependents
- How joint tax filings, refunds, and liabilities are addressed
- Handling of past or pending tax returns
- Responsibility for tax preparation or penalties
6. Children’s College Expenses
College tuition and related expenses can create long-term financial obligations. A well-drafted MSA anticipates these costs and outlines exactly who pays what, for how long, and under what conditions.
- Whether either parent is obligated to pay for post-secondary education
- Age or degree limits (e.g., up to age 23 or undergraduate only)
- Cap based on a benchmark school’s cost (e.g., University of Illinois system)
- Covered expenses (tuition, room and board, travel, books, fees)
- Percentage of responsibility assigned to each parent and/or the child
Don’t Rush the Process
No two divorce settlement agreements are identical. What works for a short-term, childless marriage may not work for a long-term union with children and significant assets. Whether your situation is straightforward or complex, take the time to create an agreement that reflects your future needs—and protects your rights.
Do You Need a Lawyer for a Divorce Settlement Agreement?
A divorce lawyer is not required, but having one on your side is recommended to make sure your interests are protected. Most family law attorneys rely on comprehensive divorce checklists to ensure no detail is overlooked. These checklists are critical in preventing one spouse from agreeing to favorable terms in one area while hiding liabilities in another. An experienced attorney can help draft a document that is thorough, enforceable, and fair.
Whether you’re just beginning the divorce process or need help finalizing the terms, the attorneys at The Rogoff Law Group in Des Plaines, IL can help protect your rights, secure fair outcomes, and ensure your divorce settlement agreement is thorough, enforceable, and built for long-term peace of mind. Call us at 847-768-2194.parent A covering 50%, parent B 25%, and the child 25%), or 50-40-10, or whatever ratio is agreed on by the parties.
