What do I Need to Know About New Jersey Marital Settlement Agreements?
Individuals getting a divorce in the state of New Jersey need a marital settlement agreement. This is a legal document that outlines the terms of a divorce and provides context for the relationship between the two former spouses after the proceedings are over. Continue reading below to learn more about these documents and contact an experienced New Jersey divorce attorney for assistance with your case.
What Information is in a Marital Settlement Agreement?
Depending on your own needs at the time of your divorce, a marital settlement agreement can cover the following:
- Financial information: Assets, debts, personal properties, bank accounts, insurance items, tax issues, etc.
- Alimony or spousal support information
- Children and parenting time: Child custody, child support, and visitation
- Other important information that is related to your divorce
How do I Prepare a Marital Settlement Agreement?
While some couples can create a marital settlement agreement on their own, others may need the help of an attorney or mediator. Couples who have a difficult time agreeing with one another can benefit from an attorney, as they can help to negotiate the agreement. In addition to this, an attorney can review the document to be sure you understand the difference between it and a court order. By entering into a marital settlement agreement and having it approved by a judge, both parties are waiving their right to a trial.
Enforcing a Marital Agreement
It is important to include all terms and agreements made that you want the court to be able to enforce your marital settlement agreement. Making sure the terms are as specific as possible can help to prevent future disputes or litigation regarding the document. If anything is left out of the document, the court will not be able to enforce any terms that are not incorporated in the signed agreement. Once a marital agreement is signed, it is binding between both parties. Generally, it is also incorporated into the final decree of the divorce so that it is enforceable.
Can I Change the Terms of a Marital Settlement Agreement?
As life goes on and changes, you or your former spouse may want to amend the terms of your marital settlement agreement. If both of you agree, mediation may be beneficial before requesting a modification with the court. If one party disagrees, the other can file a motion in court requesting a modification. It is important to note that the court always has the power to modify terms regarding child custody and support. Terms relating to spousal support can be modified as well unless the agreement specifically states they cannot be. However, provisions relating to asset or debt distribution usually cannot be changed once the divorce is final.
Contact our Firm
If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.