Property Settlement Agreements in East Brunswick Divorces

A Property Settlement Agreement (PSA) can also go by the name of a Marital Settlement Agreement (MSA) which outlines how the property is going to be divided by the parties, and also encompasses all the terms of the divorce. If they have children, it would outline the parameters of custody, parenting time, and who is responsible for what cost. It will also include a timeline, which could be as in-depth or as light as the party wants it to be. If an individual wants to know more about property settlement agreements in East Brunswick divorces, they should consult a qualified divorce attorney that could help.

Guaranteeing Proper Execution of Assets Division

When parties are getting divorced, they execute what is called a Marital Settlement Agreement (MSA) or a Property Settlement Agreement (PSA) which will outline the division of all properties. The parties can agree prior to that who gets what, but if it comes down to having a judge decide how the assets are going to be divided, in terms of the tangible personal property, that is when the parties have to wait until there is a trial court decision from the judge.

Value of an Attorney During a Property Settlement Agreement

Attorneys have the responsibility to protect their potential clients and make sure that all of their bases are covered in terms of the divorce. The PSA or MSA typically ends up being at least a 20-page document, or more, depending on what the spouses own and whether or not there is a clean division or if there is some caveat that needs to be added.

It all depends on how the properties are going to be divided. When the parties do come to an agreement and have a property settlement agreement, they go before the court for an uncontested divorce and the judge will review the agreement and determines whether or not it is fair. The judge will ask the parties whether or not they made this decision themselves, whether the parties think it is a fair agreement, whether or not they came to this decision without the influence of drugs or alcohol and without coercion; and without anybody forcing them to sign this agreement. A lot of times, the parties agree that this is how they want their property to be divided.

In a divorce, it is difficult because both people expect more than they are necessarily getting when they finally come to an agreement; both parties are upset with the outcome because they are not getting everything they wanted. And that is how the court explains it. Both parties have to divide their assets and neither party is going to be happy, especially when they get the court involved.

Impact of Property Settlement Agreements on Existing Properties and Debts

Existing properties and debts ultimately need to be addressed in property settlement agreements in East Brunswick divorces to make sure that it is a solid document. The attorney would ensure that the parameters of existing properties and debts, in the terms of the division, will be outlined in the Property Settlement Agreement.

How Consideration of Outcomes Works in the Scope of a Property Settlement Agreement

The consideration of likely outcomes comes into play in the scope of property settlement agreements in East Brunswick divorces in the negotiation, where an attorney can assist their potential client . It is important to note that in mediation (a panel the court forces the parties to go before, also known as Early Settlement Panels or ESP, which is a panel of either one attorney or two attorneys that volunteer their time to look at the facts of the case and suggest how the assets should be divided. A lot of times the parties will agree to the proposed division and come to an agreement. In order to learn more, individuals should speak with a knowledgeable divorce attorney that could answer their questions.