When a couple is ready to divorce amicably without arguments and disputes, they are entitled to make all the relevant decisions on their own and outline them in a child and property settlement agreement. The judge reviews the terms on how divorcees want their divorce-related issues to be resolved and enters the corresponding final orders if these provisions do not contradict the current legislature or common sense, considering the circumstances and the state laws.
This article offers a general overview of New York State regulations concerning divorce settlement agreements, their meaning, content, structure, and possible repercussions in case of breach.
What is a Divorce Settlement Agreement?
A marital Settlement Agreement in NY, also known as a Stipulation of Settlement, is a written contract between divorcing spouses that sets the terms of their marriage dissolution. It is normally entered into after the litigation has started and settles the parties’ possible disputes and differences, outlining their rights, duties, and obligations in regard to their children, property, and each other post-divorce.
If a couple does not want to fight over a single issue and can qualify for an amicable, uncontested divorce, they are encouraged to draft a divorce settlement agreement. In it, they can specify the terms of their marriage dissolution concerning child custody, financial support for children and/or either party, property division, debt allocation, etc. Such agreements make the process much simpler and quicker, saving a lot of money and eliminating extra stress. Spouses do not have to hire expensive lawyers, spend endless hours on negotiations, or attend countless court hearings or trials charged with tension and negativity.
Although this contract becomes legally binding once it is signed by both parties and notarized, the judge must review it before making it a part of your final divorce judgment. If the terms you specify in the agreement are not ambiguous, do not contradict the current New York State legislature, and consider the child’s best interests, the court will approve the document and incorporate it into the judgment, binding you to honor and comply with the enforced orders.
New York Divorce Agreement Template
Since no official divorce settlement agreement form is uniformly adopted across the NY State, some counties or particular courts may offer a specific one, or a couple may be free to draft it arbitrarily. Check with your local court on the current regulations concerning this matter and find out if they have at least an example you can follow to do everything properly.
Here is one of the possible Stipulation of Settlement templates that can be used if no specific form is required by your county court:
How to Write a Divorce Agreement?
You can write a marital settlement agreement independently or ask for qualified help.
If you decide to write it on your own, search reliable sources for a sample contract, a template, or a form required by your court (if any). Be careful to follow the same structure, format, and language. The court may reject your agreement if certain words and phrases are not used or the provisions are formulated inappropriately.
Some couples choose to seek professional help from family lawyers or special court programs if they offer any. However, such assistance normally comes at a cost since attorney’s fees are quite high in New York State. To save money and time, you may resort to the help of online paperwork preparation services like ours.
No matter which method of writing a Settlement Agreement you choose, both you and your spouse must review the document when it’s ready. Read it attentively and make sure that it contains all the provisions exactly the way you have agreed upon. If neither of you have any objections, sign the agreement so that it becomes legally binding.
What Goes in a Marital Settlement Agreement?
A Settlement Agreement, sometimes called a marital separation agreement in New York, usually contains the provisions spouses discussed and agreed upon. So, it’s solely up to the couple to decide what should go in their contract. The most common aspects may include:
1. Property Division
Divorce financial agreements are probably the primary issues spouses would like to settle. They normally involve the division of separate and marital property, including real estate, vehicles, jewelry, art pieces, all kinds of accounts, and other possessions. Outline the ownership of each asset you own separately or mutually and the way you want it divided.
2. Spousal Support (Alimony)
You may decide that one party should receive alimony after your divorce. In your agreement, specify all the related details: who will pay and who will receive this support, the amount, the duration, and the appropriate methods of payment.
3. Child Custody and Parenting Plan
A parenting plan is the most important in a divorce agreement if minor children are involved. This section also tends to be the longest since it embraces various aspects of legal and physical custody, visitation schedules, child support, communication and interactions, as well as countless situations that must be considered regarding children’s growing up and changing needs.
4. Responsibility for Debts
If you have any debts, including loans, credit card balances, mortgages, etc., make sure you outline who will be responsible for each of them in your Settlement Agreement.
5. Insurance
Life and health insurance arrangements can also be included in a divorce agreement if applicable. Consider these matters and specify if you want your plans to be separate or if one spouse should stay on the other’s coverage policy after divorce.
6. Taxes
Tax arrangements are also important considerations in a marriage dissolution. To alleviate any disputes and misunderstandings concerning this issue, include a provision regarding who can claim what on taxes during and after the divorce process.
7. Dispute Resolution
It is good to foresee any possible financial and personal disputes you might have after your marriage is terminated and think over their resolution in the future.
8. Modification and Enforcement
A Settlement Agreement should also specify the terms for its possible modification in the future and outline the enforcement measures and mechanisms if either spouse fails to comply.
9. Miscellaneous Provisions
If you have issues that do not match any other section, you may note them separately. They may involve any state-specific considerations or any matters concerning your unique family situation.
10. Signatures
A Settlement Agreement must be confirmed by both spouses’ signatures. Once both parties have signed the document, it becomes legally binding and enforceable.
Overturning a Divorce Settlement Agreement
While enforcing a divorce settlement agreement, the judge may amend any provision if:
- the document contradicts the current state legislature
- the terms specified do not meet the child’s best interests,
- the concealment of financial information becomes vivid,
- any duress or coercion in drafting the document is suspected, etc.
Divorce settlements in NY may also be modified by both or either party in case of a significant change in circumstances through filing a corresponding motion with the court.
Besides, either party can challenge the final divorce judgment that includes the provisions from your Settlement Agreement if fraud or a mutual mistake in the document has been detected.
Violating a Divorce Settlement Agreement
If either party violates the orders based on the agreement terms, the court will apply sanctions that depend on the severity of the case and the damage caused. The punishment may range from imposed fines to enforced contempt of court or even jail time.
Veronica Wuest is a full-time writer and a paralegal who specializes in subjects related to divorce. In her articles, Veronica explores the intricacies of married life, love, and relationships. In addition, she gives practical recommendations and offers guidance for couples who’ve been through the ups and downs of relationships or decided to end them. In her free time, Veronica enjoys yoga and pilates. She is also an avid cook and enjoys trying out new recipes.