Property Settlement Agreement (PSA) in New Jersey
A Property Settlement Agreement (PSA) also known as a Matrimonial Settlement Agreement (MSA) governs the terms of a divorce in New Jersey. Most divorces are resolved by agreement in either a PSA or MSA. The alternative to an agreement is to have the Judge decide the issues of a divorce, which would be placed into a Final Judgment of Divorce.
A PSA or MSA is a dense document and governs all issues of a divorce, hardly leaving an issues dwindling after a marriage is dissolved. Examples of some of the topics contained in a PSA can be custody, child support, parenting time, visitation, alimony, equitable distribution, insurance, real property, personal property, taxes, assets, debts and more.
If there is an issue that arises after the divorce is finalized, the Court will look back to the parties’ PSA on most issues to see what the documents says about whatever is at issue. Therefore, it is vital to have an experienced matrimonial attorney draft and review your PSA. You may have significant rights at stake and you could feel the ramifications of a poorly drafted PSA years after your divorce is complete. In such a situation, there is a high burden to modify the agreement, and it is important to get it right the first time.
If you have any questions or concerns about your divorce or PSA or MSA, contact us today. At Hark & Hark, we help clients with divorce, custody, domestic violence, child support, alimony issues and more.
We are reducing fees and working with clients to come up with manageable payment plans. Initial consultation is always free and we are available remotely. We represent clients in all towns in New Jersey, including Absecon, Atlantic City, Brigantine, Buena Borough, Buena Vista Township, Corbin City, Egg Harbor City, Egg Harbor Township, Estell Manor, Folsom, Galloway Township, Hamilton Township, Hammonton, Linwood, Longport, Margate, Mullica Township, Northfield, Pleasantville, Port Republic, Somers Point, Ventnor, and Weymouth Township.