Navigating divorce can be exhausting, but having a Marital Settlement Agreement (MSA) in place can be a useful tool for resolving some, if not all, issues that arise throughout the divorce process. MSAs can address a variety of issues within divorce laws, from property division to child custody.
You don’t have to go through your divorce alone. The experienced family law attorneys at Graziano & Flynn can help you negotiate a settlement agreement that considers your best interests.
Contact us today for a free consultation with one of our New Jersey divorce lawyers.
What is a Marital Settlement Agreement in New Jersey?
In New Jersey, a Marital Settlement Agreement, sometimes referred to as a Property Settlement Agreement or a Marital Separation Agreement, is a legal document that outlines the terms of a divorce and serves as a blueprint for the relationship between former spouses after divorce.
The kind of settlement you’ll need depends on whether you have children and what marital property you share.
Elements Included in a Marital Settlement Agreement
An MSA requires both parties to come to an agreement voluntarily. Any sign of coercion will make the agreement unenforceable. Any fraud or misrepresentation of material assets will also render the MSA unenforceable. Based on your circumstances at the time of your divorce, your MSA may include some or all of the following.
- Equitable distribution of assets and debts, personal properties, bank accounts, insurance, and taxes.
- Alimony or spousal support when applicable.
- Children and Parenting Time, from child custody to child support and visitation.
- Any other issues related to your divorce that are important or legally enforceable.
At Graziano & Flynn, our divorce lawyers understand the items critical for a successful MSA and will guide you through the process, communicating with you every step of the way.
The Importance of an MSA in New Jersey
It’s unlikely that you would need an MSA if you share no assets and have no children with your spouse. However, if that’s not the case, having an MSA in place can make divorce pleadings less complicated and more amicable, allowing you to avoid litigation in court. Such an agreement can save you time and money, and help you avoid adding stress to the process.
Child custody and parenting time agreements can be modified until the child reaches the age of 18. To modify a child custody order, you must file a motion and provide sufficient evidence to suggest a change in circumstances that requires a post-judgment modification.
Why You Should Hire a Divorce Lawyer to Draft Your MSA
Hiring a divorce lawyer to assist with drafting your MSA can help protect your familial and financial interests. At Graziano & Flynn, our experienced divorce lawyers have the extensive legal training required to draft enforceable agreements that address all of the relevant issues in your divorce.
Is a Marital Settlement Agreement Required?
While an MSA isn’t required, it can help you save time and money by avoiding formal litigation. A settlement agreement allows you to maintain control over the terms of your divorce without the stress and expense of battling it out in court. You get to decide, along with your spouse, what your relationship will look like moving forward in a financial and familial sense.
Is There a Statute of Limitations on Marital Settlement Agreements in NJ?
No, there is no Statute of Limitations on a marital settlement agreement. However, completing the agreement promptly is still important, as it will dictate many post-divorce conditions. Additionally, while there may be no time requirement on the agreement, it must still adhere to New Jersey public policy because any clause in violation of the law will be void.
Can You Change a Marital Settlement Agreement?
A settlement agreement can be changed if both spouses consent. Additionally, it’s important to know that a Court will not modify certain terms like property division or alimony unless the MSA contains language permitting judicial intervention or unless a substantial change in circumstances has occurred
Talk with an Experienced New Jersey Divorce Lawyer at Graziano & Flynn
At Graziano & Flynn, we understand the emotional strain that can arise through a divorce. Our empathetic family law attorneys will guide you through every step of the divorce proceedings to empower you to make the best choices for you and your family.
Contact us today for a free legal consultation!
