(provided by Donald G. Criscuolo, Esq.)
Settlement agreements should be entered into freely, voluntarily, and only after full disclosure of all pertinent facts. The agreement itself will most likely contain representations that full disclosure was made. Sometimes after an agreement is made, even if many years have gone by, one party will learn that the other party failed to disclose assets or income, or made a material misrepresentation regarding their financial condition. Sometimes, depending on the exact nature of the misrepresentation, it could be considered fraudulent and provide grounds to cancel the agreement.
Nothing is worse than going through the divorce process, enduring the expense, both financially and emotionally, finally coming to an agreement only to learn that you were cheated. On the other hand, it is likewise disappointing to be sued by you former spouse, years after the divorce is over, who alleges you committed fraud when you did not. Either way, you are now back in court litigating again. An experienced family law attorney should take the necessary steps to ensure full disclosure is made so you can make an intelligent and informed decision regarding settlement. All efforts should be made to avoid the potential for unnecessary litigation. The agreement should be properly drafted so it will hold up in court against any unjustified attack.
Information provided by:
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