A Custody Agreement is a legal document that clarifies and sets out the terms by which two or more parties agree to share responsibility for something. It could be used to establish who has custody of a child, property rights, asset protection, and more. By detailing exactly who is responsible for what, a Custody Agreement ensures all parties involved understand their roles and obligations. A Custody Agreement can be used in court as evidence to settle disputes, so it’s important to create one carefully—protecting both your interests and those of your partners.