Making New Jersey Marital Agreements Fair
Marital agreements are sometimes a necessity, but they are not always fair to each party involved. If you are starting to make a marital agreement, a seasoned family lawyer may be able to help ensure you are making a New Jersey marital agreement fair and amenable to all parties involved. Call today and set up a consultation with an experienced marital agreements attorney.
How a Lawyer Can Ensure a Divorce Settlement is Fair
To ensure the opposing party is not being unjustly enriched after their divorce settlement agreement is finalized, the attorney must make sure that there is full disclosure of all assets and income. They must gather documentation regarding the income, assets, and finances of the other party.
If real estate is involved, they must get all information available to establish ownership of property such as deeds, mortgage information, and other pertinent information. In order to value the property, appraisals may also be necessary.
It is imperative to identify everything that both parties possess. If the other party is not being forthright, then certain actions may be taken. If one party is concealing bank accounts, it is possible to subpoena the bank and find the accounts.
The job of the attorney is to identify everything and assign a value to it by way of bank statements, appraisals, or forensic evaluations. They can then advise the individual what they may be entitled to based on the facts of that case and any applicable laws. A lawyer protects a person by ensuring they make an educated decision with all the information available.
Full and Fair Disclosure in Marital Agreements
Full and fair disclosure requires parties to share all information regarding income and debts with the other party and their legal counsel. Things that must be disclosed includes:
- Assets
- Liabilities
- Monthly Expenses
- Income
- Other sources of compensation such as income from stocks, dividends, rental income, etc.
Both parties must reveal everything to the other. Even if certain items are exempt from being distributed to the other spouse, they must reveal any and all financial assets and property. Without sharing this information, there is no full and fair disclosure.
If parties enter an agreement and one party has not been forthright with all their assets and income and the other one finds out after the fact, then that might be a basis to set aside the agreement.
Regulations for Enforcing Settlements
There are several regulations for making a New Jersey marital agreements fair. For a settlement agreement to be legally enforceable, there must be a written agreement. The parties must enter into that agreement voluntarily and without duress and be able to understand what is in the agreement. The agreement needs to be part of extensive negotiation, meaning that it cannot be that one party is coercing the other one to enter it to be fair. Neither party could be under the influence of alcohol or drugs when it is agreed to. Both parties have to be of sound mind during the negotiations and when signing the agreement.
Call a Family Lawyer for Your Settlement
It can be challenging to come to a settlement in a marital agreement. There are many technicalities that must be obeyed for the document to be legally binding. A skilled family attorney may be able to assist in making New Jersey marital agreements fair. A lawyer may be able to represent your best interests in and out of court. Call today to schedule a consultation on your specific case.
