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What to include in your New York divorce agreement

On Behalf of | Jul 28, 2023 | Blog, Divorce

Divorce is never easy. It requires tough decisions and careful negotiation in the midst of emotional upheaval. One of the most critical steps in this process is the creation of a comprehensive divorce agreement. This document sets the terms of the divorce and holds significant influence over your future.

In New York, several key areas should form part of your divorce agreement to address all aspects of your shared life adequately. Here are the crucial elements that your divorce agreement should include.

Arranging property and asset division

Clearly state how you will divide your property and assets in the agreement. Items like real estate, cars, retirement accounts and other significant assets need specific allocation to avoid future disputes.

Assigning debts

Include all debts in your divorce agreement. Assign responsibility for credit card debts, mortgages, car loans and other financial obligations fairly and manageably.

Determining child custody and visitation rights

If you have children, make provisions for their custody in the agreement. Also, specify visitation rights for the non-custodial parent. Decisions here should always prioritize the best interests of the children.

Establishing child support

Specify arrangements for child support in the agreement. Detail the amount, frequency and duration of payments to ensure both parents contribute to their children’s financial well-being.

Setting alimony or spousal support

If financial support from one spouse to the other is necessary, include these arrangements in the agreement. List the duration, amount and frequency of spousal support or maintenance payments.

Incorporating other specific agreements

Each divorce is unique, and there may be other elements you need to include in your agreement. These might relate to future communication, dispute resolution or other aspects specific to your situation.

Your New York divorce agreement should cover all significant aspects of your shared life. Despite the difficulty of divorce, a well-crafted agreement can smooth your transition into your new life and lay a solid foundation for your future.