Legal Question in Family Law in New Jersey
Is disclosure necessary prior to divorce settlement?
There are two parties getting a divorce in the state of New Jersey.
The notification of the divorce from the first party's attorney to the second party included settlement terms, with the understanding that no full disclosure was necessary.
Summarized, instead of spliting up all assets, the first party agreed to avoid the lengthy legal process, settle on the terms that they would recieve the second party's half of the house. (The only shared asset between the two parties is the property referenced.)
The second party would like to accept this offer without full disclosure.
The second party's attorney has advised the client that without full disclosure, the settlement may not stand legally and the first party can return for other assets at a later date.
1) Will this agreement to this offer stand legally?
2) Can the first party legally come back for more assets if the acceptance includes a clause that prevents this?
3) Is a mediator still necessary in this case?
4) If not, what is still necessary assuming it is legally permissible to settle on these terms without full disclosure?
1 Answer from Attorneys
Re: Is disclosure necessary prior to divorce settlement?
It is incredibly stupid to agree to a specific item to settle all claims, without having any idea what the total assets are. I have had two clients insist on it, and I fired those clients. I will not take the risk that a client will find out later that she has agreed to take only half of the house, and gave up her claims to hundreds of thousands of dollars of assets that she did not know about.
It is NOT fun to fight through a divorce. It is going to affect the rest of your life, and your children's if you have any. You must, must find out what the total assets are.
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