What the agreement usually covers
A marital settlement agreement sets out how marital property and debts are divided, whether maintenance is paid, and, where there are children, how custody, parenting time, and child support will work. It often also addresses health insurance, life insurance, tax filings, and what happens to the marital home. Terms about property and maintenance can be difficult to change later, so they deserve the most careful attention. Terms about children remain subject to the court's review, because a judge has to consider what serves the children regardless of what the parents agreed.
Formalities New York requires
In New York, a separation agreement signed outside a pending case generally has to be in writing, signed, and acknowledged in a manner similar to a deed, while a settlement made within a pending divorce can follow somewhat different formal rules. Child support terms have to address the calculation under the state's child support guidelines and explain any departure from the guideline amount, and an agreement that skips this can be rejected. Courts can set aside an agreement in limited circumstances, such as one reached through fraud or overreaching, but those challenges are difficult. Full financial disclosure before signing helps protect the agreement from later attack.
Before you sign
Bring financial statements, tax returns, retirement account statements, property records, and any draft agreement you have received. Pay attention to how retirement accounts will be divided, since that often requires a separate court order directed to the plan administrator. Consider how the agreement treats future events, such as a move, a new job, or a child heading to college. We review the draft with you, point out terms that are unclear or one-sided, and explain which provisions can be revisited later and which are likely permanent. Questions are easier to raise before signing than after the agreement becomes part of a divorce judgment.
