What Is a Stipulation of Settlement?
A stipulation of settlement is the divorce contract that precisely and carefully articulates the terms and conditions of your separation for all future events, which may include but is not limited to the division of assets or debts, the sale of property, the holiday parenting time schedule, the payment or receipt of support, and also the default of either party should there be a failure to abide by the agreement.
Should I Sign a Stipulation of Settlement?
You should only sign a stipulation of settlement if you and your attorney have carefully and thoroughly read and understood the contents of the contract. Make sure to have actively participated in negotiating the terms of the agreement, and only sign the stipulation if the document accurately represents the terms and conditions by which you are prepared to abide in the foreseeable future.
Can a Stipulation of Settlement Be Changed?
On the date you sign a stipulation of settlement, you have a reasonable obligation to address any and all foreseeable events or occurrences.
If a foreseeable event occurs that was not taken into consideration on the date the stipulation was signed, there is a possibility that you may not be able to change the stipulation.
If a change in circumstance occurs after the signing of the agreement that was not foreseeable at the time of the executed stipulation, then there are applications to make to a court of competent jurisdiction, and the likelihood to change the stipulation is possible.