New York Marital Settlement Agreement - EXPLAINED

Official New York Marital Settlement Agreement: https://bit.ly/3lwAkMn

A New York Marital Settlement Agreement is a document detailing how a married couple will distribute shared (or “marital”) assets and responsibilities upon their divorce. Both spouses stand to benefit from drafting a written understanding in which all divorce terms are stipulated. The soon-to-be-divorced couple can include information on the settlement, like dividing their assets, liabilities, properties, and any child custody or support.

In this video, we discuss:
How a marital/divorce settlement agreement works and its essential functions;
The importance of a formal, written settlement agreement;
Legal divorce requirements in New York; and
Where to get an official template!

A well-crafted settlement can differ between a highly contested divorce case and one with minimal time in court for both spouses. That is because the terms would be predetermined on the agreement, whereas a contested divorce without any prior agreement involves attending multiple hearings before a judge. Said judge or a court-appointed mediator would then determine the distributions at their own discretion and based on equitable distribution:

Equitable distribution is the “fair” separation of assets, which means dispersions are not necessarily an equal or 50/50 divide.

Such an equitable divide can be avoided, in some cases, by completing a settlement outside the court system. But, of course, this would take both spouses reaching a mutual accord, which may be easier said than done depending on the nature of the divorce.

For more information about New York marital settlement agreements, their functions, and key legal requirements in NY, watch our video -- and then head to the link above for an official template!

New York Marital Settlement Laws: Domestic Relations, Articles 9 through 13

Free Version: https://eforms.com/marital-settlement...

DISCLAIMER: This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our videos.

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0:00 Intro:
0:56 What Is A Marital Settlement Agreement:
1:48 Legal Requirements In This State: