A divorce agreement, also called a “marital settlement agreement,” can be drafted relatively quickly provided that the spouses have disclosed all income, identified all assets and liabilities, and have created a realistic settlement. By entering into a marital settlement agreement and asking a judge to accept it, you’re thereby waiving your right to a trial and your divorce is complete.
Couples with an uncomplicated straightforward settlement may be able to construct a basic marital settlement agreement and then have an attorney review it. Other couples may have help from a family law mediator if they use mediation.
Key items to pay attention to when creating a marital settlement agreement include making sure that all issues of the divorce are fully resolved including details on specific payments such as alimony or child support, plans for distribution of equity in the home, child custody arrangements, and division of accounts and debts.
The agreement should also include easily identifiable dates upon which each party shall make payments and/or transfer of assets to the other shall occur, as well as when accounts should be closed, including credit card accounts.
Bari Zell Weinberger is the owner and managing partner of Weinberger Law Group in New Jersey. She is Certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney.