A settlement agreement (commonly termed a Property Settlement Agreement” in Virginia) is a written agreement that reflects the desires of both parties relating to any matters that must be determined as a result of your separation and divorce. Those matters may include the division of property (both real estate and personal property) between the parties; child custody; visitation; child and spousal support, and any other issues involved in the divorce action that would otherwise be decided by a court.
An uncontested divorce will generally contain a settlement agreement signed by the husband and wife showing that they agree to its terms; for example: Joint legal custody of the children, with their primary residence with the husband/father. After both husband and wife agree on the terms and have signed the Agreement, the court will review it. If it is approved by the court, the Agreement will be incorporated into the final decree of divorce, and it will become a court order.
It is important to have an experienced attorney review all of the specific issues of your case so they can prepare an appropriate and legal document that accurately reflects the intentions of both you and your spouse.