A marital settlement is a legally binding agreement between two parties who are divorcing or separating. This agreement outlines the terms and conditions of property division, spousal support, child custody and visitation rights, and any other issues that need resolving after a marriage has ended. The settlement is usually reached through negotiation or mediation, and if both parties are in agreement, it is presented to a court for approval. Once approved, the settlement becomes a court order, and both parties must abide by the terms laid out in the agreement. A marital settlement can provide a quicker, less expensive, and more amicable resolution to divorce or separation, as opposed to a long and contentious court battle.