E
List of Clauses
Education of Children-Each parent entitled to complete information from school
Education of Children; Accounts Established in the Names of Children to Pay for College
Education of Children; Child of Spouse's Former Marriage; College Expenses
Education of Children; Choice of SchoolClause 1-General Clause for deciding on school
Clause 2-Resolving disputes over choice of school
Education of Children; College Expenses; Cost of Tuition in Accumulated Bonds
Education of Children; College Expenses; Cost of Tuition in Existing Bank Accounts
Education of Children; College Fund
Education of Children; College Loans; Parents as Guarantors
Education of Children; Duty to Pay; College Expenses
Education of Children; Duty to Pay; College Expenses; Limited Financial
Obligation
Education of Children; Duty to Pay; College Expenses; Obligation Limited to Cost
of State University Clause 1-College expenses defined as live-away costs at State University
Clause 2-Husband's financial obligation limited to cost of State
University
Clause 3-Husband's responsibility for college costs not to exceed those
charged to in-state resident attending a state college
Clause 4-Husband may deduct from child support any college expenses in
excess of cost of State University
Education of Children; Duty to Pay; College Expenses; Sharing of Expenses Clause 1-Parties to contribute to college expenses in accordance with
financial circumstances
Clause 2-Husband to set up trust fund to assist Wife with shared expenses
Clause 3-Establishment of a joint educational fund
Clause 4-Husband to pay 60% of college costs, Wife 40%; exception to
emancipation provisions stated elsewhere in the Agreement
Education of Children; Duty to Pay; College and Graduate School Expenses
Education of Children; Duty to Pay; Full Educational Expenses Clause 1-Husband to pay nursery school through college
Clause 2-Husband responsible for private school education, from primary
grades through graduate school
Education of Children; Duty to Pay; High School and College Expenses
Education of Children; Duty to Pay; Post-High School Education with Definition
Education of Children; Duty to Pay; Post-Secondary School Education with
Definition
Education of Children; Duty to Pay; Pre-College Expenses
Education of Children; Duty to Pay; Primary and Secondary Education
Education of Children; Duty to Pay; Private School and College Expenses
Education of Children; Duty to Pay; Tutoring
Education of Children; Duty to Pay; Vocational Training
Education of Children; Funds Saved for College to Be Transferred to a Trust on
the Remarriage of Either Parent
Education of Children; Private School Education Provided to One Child Need Not
be Provided to Other Children
Education of Children; Selection of School; Procedure Should Parties Disagree
Educational Expenses; Defined
Emancipation Event; Change of Custody by Court Order
Emancipation of Children; Defined
Emancipation of Children; Temporary Emancipation Event
Equitable Distribution; Reimbursement for Advances Pending Sale of Marital Home
Escrow Account; Liquidation of Assets and Division of Proceeds
Escrow Accounts; Transfer of Interest in on Conveyance of Marital HomeClause 1-Husband transfers to Wife all interest in escrow accounts,
security deposits and insurance policies in connection with marital home
Clause 2-Husband entitled to escrow account and is authorized to endorse
Wife's name on escrow check
Escrow Agent; Appointment of on Sale of Marital Home
Estate; Claims Against for Unpaid Amounts
Estate; Transfer of Real Property on Death of Proprietary Spouse Clause 1-Transfer of full interest in realty to Wife on death of Husband
Clause 2-Transfer of limited interest in realty to Wife on death of
Husband
Estate; Voluntary Bequests-Agreement not to constitute waiver of any bequest by
either party to the other; no promises made with respect to any bequest
Estate; Waiver of Right to Share in Estate of Other Spouse
Expenses; Proof of-Wife to submit bills to Husband E
Text of Clauses
Education of Children-Each parent entitled to complete information from schoolEach parent shall be entitled to complete and full information from any
teacher or school giving instruction to the children or to which the children
may attend, and to have copies of a report given by them, or any of them, to a parent. In the event that the school shall refuse to provide the Husband with
school records, the Wife shall be under a duty to inform the school that the
Husband is entitled to and should be provided with such information, but if the
school should continue to refuse, she shall then be under a duty to inform the
Husband of important events in the life of the child having to do with school,
social, athletic, or extracurricular activities, and the Husband shall have the
right to be in attendance thereat, e.g., graduation, academic honors, or
achievements, plays, athletic events, scouting and any other or similar events
as are generally recognized by parents to be of importance both to or by the
child and the parents. In the event that the school shall refuse to provide the Husband with
school records, the Wife shall also be under a duty to notify the Husband of any
and all teacher conferences or counseling sessions or meetings involving the
child, and the Husband shall have the right to be in attendance at such meetings
so that there may be unanimity with regard to a course of action designed to
nurture the development and growth of the child.
Education of Children; Accounts Established in the Names of Children to Pay for College In addition to the provisions of any other Article of this Agreement, the
parties have established the following funds which are expected to be sufficient
to pay for a four-year undergraduate education for the three children, including
tuition, room and board: (1) Smith & Jones brokerage account in the name of the Husband,
Account No. ____________ with value as of [date] of $______. (2) Smith & Jones brokerage accounts for each of the three children
with Wife as custodian under New York Uniform Gifts to Minors Act, as follows:
f/b/o [name of child] Account No. _____;
f/b/o [name of child] Account No. _____;
f/b/o [name of child] Account No. _____;
The parties will encourage the children to utilize the funds from
the individual accounts in their names, which will otherwise become available to
them from the foregoing accounts on their attaining the age of majority, to pay
their costs of undergraduate education, including tuition, room and board, books
and laboratory materials, transportation to and from school and reasonable
entertainment expenses. To the extent the children do not do so, or the funds
available to them from such sources are not sufficient, the Husband shall pay
for all such costs for a four-year undergraduate education for each child at a
school reasonably satisfactory to him; provided, however, that the Husband shall
not be obligated to pay for more than three round-trips between the child's home
and college during any school year.
Education of Children; Child of Spouse's Former Marriage; College Expenses (See
also: Educational Expenses; Defined)
The Husband agrees to pay tuition of ________________, the child of the
Wife by a former marriage. The Husband will pay these expenses so long as
______________________ is a single, fully matriculated, daytime student in good
standing, with a good attendance record, maintaining at least a B-average with
no failure in an accredited university or college. The obligation to pay tuition
for each shall not exceed $______________________ per year. Husband shall not be
obligated to pay any tuition over and above ________ percent of the Husband's
annual gross income.This obligation shall not continue beyond any school term commencing after
__________. If the Husband's earnings are less than $_________ per year from all
sources, then this obligation shall cease. To the extent that _____________
receives grants, financial aid or scholarships toward his college education,
then the obligation of Husband shall be reduced by an amount equal to one-half
the amount of the grant, aid or scholarship.
Education of Children; Choice of School Clause 1-General Clause for deciding on school:
The parties agree and intend that the Husband and Wife in
consultation with each of the children shall reasonably determine the
institution at which college or university study shall be pursued.
Clause 2-Resolving disputes over choice of school:The Husband and the Wife in consultation with each of the children
shall reasonably determine which primary and secondary schools the children
shall attend. In the event of any dispute or controversy between the Husband and
the Wife as to which primary or secondary schools the children shall attend,
such dispute or controversy shall be determined by the then-acting school
principal of the ___________ School, and if he or she refuses to or is unable to
resolve such dispute, such dispute or controversy shall be determined by
__________. Such determination shall be binding upon the parties.
Education of Children; College Expenses; Cost of Tuition in Accumulated Bonds The parties acknowledge that through a payroll deduction plan of the
Husband's employer, bonds have been accumulated over the last ____ years. It has
been and will be the intention of the parties that these bonds be utilized for
the education of the children in equal shares. If any amount remains after all
the children have completed four years of college or when they have all
respectively attained the age of twenty-two years, whichever event occurs
sooner, they will immediately receive equal shares of whatever balance is
remaining of the accumulated value of the bonds. The Husband obligates himself
to purchase government bonds for so long as his current employer maintains the
present or similar plan whereby he is allowed periodic deductions from earnings
to purchase such bonds. The Husband will continue such plan in the frequency and
amount that he has been so doing for the prior _______ years. In the event this program ceases at this present place of employment, or a
new place of employment does not have a similar plan, the Husband's obligation
to accumulate further bonds shall be at an end, but the amount remaining in the
accumulated bonds will be utilized as set forth above for the children's
education.
Education of Children; College Expenses; Cost of Tuition in Existing Bank Accounts The parties have expressly and specifically excluded all references to
college education for the children of the parties. The parties expressly
acknowledge that there are existing bank accounts for the benefit of the
children intended for such education currently in Wife's name in the following amounts:
Name of Child Bank Account Number Amount
Education of Children; College Fund
The Husband and Wife have heretofore established certain funds for the
benefit of their children, pursuant to a "Qualified State Tuition Program" under
Section 529 of the Internal Revenue Code (the "College Fund"). The following
College Funds have been established by the parties:
__________________________________________________
__________________________________________________
__________________________________________________
__________________________________________________
Said College Funds are to pay for the children's private undergraduate
college tuition and fees.
Neither party shall withdraw any moneys from the College Fund except for payment
of college expenses. Both parties shall provide the other, each year, with a
copy of an account statement for each College Fund he or she controls, showing
the balance in said fund(s). It is agreed by both the Husband and Wife that no moneys shall be
withdrawn from the fund(s) other than for payment of college expenses. Until the latter occurring event of the children graduating from college
or reaching the age of twenty-one (21), both parties shall maintain said College
Funds. To the extent permitted by law, both parties shall use the principal and
income from the College Funds to pay for the cost of college expenses,
including, but not limited to, college application fees, tuition, room, board,
student activity fees, course fees, study abroad, laboratory fees, and books
required for course work (collectively "College Expenses"). In the event that the children obtain any scholarships, grants or other
type of financial aid for College Expenses, such award or awards, and such funds
or credits, shall be applied to defray College Expenses prior to any of the
moneys in the College Fund being utilized.
Education of Children; College Loans; Parents as Guarantors
It is the parties' intent to share equally the cost of the children's
college education, including room, board, tuition, transportation for four (4)
round trips home, and a reasonable amount of spending money. If one of the
parties claims an inability to make the requisite contribution to the aforesaid
costs, the other party may make application to a court of competent jurisdiction
for a determination on the issue. If after such a court determination, it
becomes necessary or reasonable for a child to borrow money for his or her
college education, and if it is necessary to have guarantors or co-signers on
the college loans, then both parents agree to pledge their credit to assist the
child in borrowing funds for college expenses.
Education of Children; Duty to Pay; College Expenses (See also: Educational
Expenses; Defined) Clause 1:
The Husband agrees that he will provide each of the children with a
college education throughout the attainment of a bachelor's degree or equivalent
from a state college or university or its equivalent, to be earned by each child
prior to the attainment of the age of twenty-three. It is contemplated by the
parties that college-level education may be residential in nature, and the
Husband agrees that in connection with the college education, he will pay the
following costs: tuition, room and board, books, laboratory, student and other
fees billed directly by the educational institution (all equivalent to a state
college or university). If any of the children should reside "off campus" the
Husband shall pay the reasonable rent and reasonable food allowance directly to
the child so affected. The parties agree to consult with one another and with
each of the children as to the choice of any college or university, and their
concern in such consultation shall be governed by the cost which shall be
equivalent to that of state college or university and by a college or university
most appropriate to the needs and abilities of the child.Clause 2:The Husband hereby agrees to continue to pay the college tuition and
related expenses including but not limited to transportation, books, fees of the
parties' daughter, _____, until she graduates. In the event that any or all of
the remaining children shall be qualified to attend a college or university, the
Husband agrees to pay all tuition, books, room and board (or equivalent of
school costs if the child lives off campus) and other expenses required to be
paid by such college or university with respect to each child, until such time
as such child obtains an undergraduate degree, or until the time when such child
attains the age of twenty-two years, whichever shall first occur.
Clause 3:The Husband agrees to pay and provide or contribute to and for the
college or university expenses of each of the children promptly when such
obligations become due or payable. The obligation of the Husband to so provide
shall not extend beyond the twenty-second birthday of each child and the father
shall not have such obligation in the event that except for entry into the armed
forces, hospitalization or disability (except as the result of drug or alcohol
abuse), the child does not pursue college education on a reasonably continuous
basis. Payments are to be made by the Husband by check or money order payable to
the college or university and delivered to the Wife at least ten (10) days prior
to the due dates set forth by such educational institution.
Education of Children; Duty to Pay; College Expenses; Limited Financial
Obligation (See also: Educational Expenses; Defined)
The Husband shall, during his lifetime, pay the following directly on
behalf of each of the children: 50% of the expenses in connection with each
child's college education at the University of ________, or any other accredited
college. Expenses are herein defined to include tuition, books, fees, room and
board and transportation up to four times per year between any such school and
the residence of each child. In no case shall the husband be required to
contribute more than $______ for each child in the first school year. Thereafter
his maximum shall be $______ for each of the succeeding three years, and in no
event shall the Husband be liable to pay for a period exceeding four years after
the child starts college. The Wife will furnish the Husband with copies of all
bills concerning all educational expenses for which the Husband is responsible.
Bills will be paid within thirty days after submission.
Education of Children; Duty to Pay; College Expenses; Obligation Limited to Cost
of State University (See also: Educational Expenses; Defined) Clause 1-College expenses defined as live-away costs at State University:
College expenses at a live-away college are hereby limited to
include tuition, fees, books, room and board, but only to any amount not to
exceed the level of such charges for a full-time college program at a senior
college of the State University of the State of _____. Clause 2-Husband's financial obligation limited to cost of State
University: The Husband shall be responsible for and pay for all costs of any of
the children attending a State University. If any of the children do not attend
a State University, the Husband shall pay a sum equivalent to the then cost of
room, board and tuition at a State University with respect to the child or
children attending any other university, college or vocational school. Clause 3-Husband's responsibility for college costs not to exceed those
charged to in-state resident attending a state college:
Notwithstanding anything herein to the contrary, in no event shall
the Husband be responsible for paying college tuition fee costs in excess of
those charged to an in-state resident by a State University in the State of
___________.
Clause 4-Husband may deduct from child support any college expenses in
excess of cost of State University: (1) In the event the Husband shall expend any sums for "college
expenses" in excess of the costs then charged by the State University of the
State of _______, the Husband shall receive a dollar-for-dollar reduction in his
child support obligation as set forth in Article VII herein. (2) The parties further agree that in the event they are considering
a college or university wherein the "college expenses" exceed those then charged
by the State University of the State of _______, the Wife can withhold her
consent based upon the financial conditions that exist at that time.
Education of Children; Duty to Pay; College Expenses; Sharing of Expenses (See
also: Educational Expenses; Defined)
Clause 1-Parties to contribute to college expenses in accordance with
financial considerations:
Each of the parties will contribute to the cost of the college
education of the children in accordance with their financial circumstances at
the time of such college attendance.
Clause 2-Husband to set up fund to assist Wife with shared expenses:It is the intention of the parties that they shall equally share the
children's college educational expenses. The Husband shall timely pay to the
Wife sums of money equal to 50% of all such expenses, anticipated or actually
incurred. Said expense payments shall include, but not be limited to room and
board, tuition and fees, books and other similar ancillary and tangential items.
The Husband and Wife shall consult with one another concerning the education of
the children. The Husband shall upon the execution of this agreement place the sum
of $______ in trust to be invested in an interest-bearing account for the
benefit of the children. The Husband and Wife shall be joint trustees, and the
signatures of both shall be required with respect to any withdrawals from the
said trust fund. The funds shall be expended by the trustees for the children's
education in partial satisfaction of the Husband's obligation. Each party may
appoint by an instrument in writing a successor trustee with the same powers as
exercised by them as trustees. In the event a child does not attend college the
trust fund shall be maintained in trust until that child reaches the age of
twenty-eight years, at which time the principal and interest of the trust shall
be paid over to the husband or his successors or assigns.
Clause 3-Establishment of a joint educational fund:
(1) In addition to the provisions of any other Article in this
Agreement, the parties shall pay for the benefit of the unemancipated children
of the parties the college expenses (as defined herein) of each unemancipated
child, provided that: (a) the child is in full-time day attendance on a
continuous basis with reasonable regular attendance and matriculated in a course
of study leading to a recognized undergraduate or graduate degree at an
accredited college or university; (b) the Husband and Wife shall each approve of
said college or university, which approvals shall not be unreasonable withheld;
(c) the choice of college shall take into account the parents' then financial
ability; and (d) the child is academically and emotionally suited for said
course of study and educational institution in the judgment of the Wife and
Husband, which judgments shall be exercised reasonably.
"College expenses" as used herein, shall be defined and
limited as follows: tuition, room, board, registration fees and required books
and laboratory materials, application fees, admission testing fees, any two
preparatory or tutorial courses in connection therewith (e.g., S.A.T. courses)
and reasonable transportation charges or four round trips per year between the
child's residence and the college. "College expenses" shall not include summer
school tuition.(2) To pay for the aforesaid "college expenses," the parties agree
as follows: (a) in any calendar year, commencing in 20__ through the
attainment by both children of an Emancipation Event, that the Wife's "other
income" (being defined herein as income of the Wife exclusive of payments
received from the Husband for maintenance and child support) exceeds the sum of
$_____, an educational fund shall be established by the Husband and Wife
jointly, in a mutually agreeable financial institution, the Husband to pay
$_____ per annum and the Wife to pay $_____ per annum into such educational fund. (b) In any calendar year in which "college expenses" are
incurred, the payment of the expenses shall be made first through the use of
funds, if any, in the education fund established pursuant to subdivision (2)(a)
of this article. Notwithstanding any other provision of this Agreement to the
contrary, when a child is actually in attendance at college, the child support
payment payable by the Husband to the Wife shall be paid to the education fund
in lieu of direct payment to the Wife. To the extent that the "college expenses"
of either or both children exceed in said calendar year the amount in the
educational fund, the Wife shall pay 50% of the expenses that exceed the moneys
held in the fund, if her "other income" for that calendar year exceeds $_______,
and the Husband shall pay the balances of such expenses. If the Wife's "other
income" is less than $______, the Husband shall pay the entire college expenses
not paid through the educational fund.
Clause 4-Husband to pay 60% of college costs, Wife 40%; exception to
emancipation provisions stated elsewhere in the Agreement:
The parties will share the college expenses for a reasonably
continuous four year program at an accredited college or university, for a
recognized degree, both direct and other expenses which are usual with the
attendance at college, the ratio being: Husband paying 60%, Wife paying 40%. Any
emancipation provisions set forth in this agreement do not relate to college
expenses, nor are they affected by the aforesaid obligations.
Education of Children; Duty to Pay; College and Graduate School Expenses (See
also: Educational Expenses; Defined)
(1) The Husband agrees to pay and provide for
(a) the college education expenses and
(b) the post-college graduate education expenses, such as
professional school, study for doctorate degree, etc. for each of the children.
(2) Included within the expenses referred to in subdivisions (a) and (b)
of Paragraph (1) are tuition, fees, books, board and lodging, allowance and a
reasonable number of round trips from and to college or graduate school.
(3) The parties agree and intend that the Husband, together with the
particular child, shall reasonably determine the institution at which said
college or post-graduate study shall be pursued. The parties contemplate and
intend that said institution may be a private institution.
(4) The parties contemplate and agree that except as same may be
interrupted by service in the Armed Forces or illness, said college education
and post-graduate education shall be on a substantially continuous basis.
Education of Children; Duty to Pay; Full Educational Expenses (See also:
Educational Expenses; Defined) Clause 1-Husband to pay nursery school through college:
The Husband agrees to pay for the children's nursery school and all
other school and educational expenses including college, said expenses to
include, but not be limited to, fees, books, uniforms, fees, transportation,
school activities and related expenses no matter what the cost.
Clause 2-Husband responsible for private school education, from primary
grades through graduate school: The Husband shall pay, directly to the educational institutions
attended by each child, all charges relating to tuition costs, all school-
related assessments, room and board, books and school supplies, athletic and
student activity fees, school uniforms, if required, laboratory fees, school-
related trips, all transportation costs inclusive of bus fees relating to the
current schools attended by the children and continuing through secondary
school, undergraduate, and graduate or professional education for each child. It
is acknowledged by both parents that the children, provided they are accepted
for enrollment by such private educational institutions, will attend private
school, primary, secondary, college and/or university and graduate school. When
a child attends college or graduate school, the Husband shall pay a reasonable
allowance directly to the child for the child's personal expenses, in addition
to the payment of the expenses hereinabove described. When a child attends
college or graduate school, transportation costs to be paid by the Husband shall
be limited to ______ round trips each semester. The Husband shall pay start-up
expenses for each child at the beginning of the child's freshman term, not to
exceed $_____. The parties shall consult with each other concerning choice or
change of school or college attended by the children.
Education of Children; Duty to Pay; High School and College Expenses (See also:
Educational Expenses; Defined) The Husband shall be responsible for the payment of the costs of the four-
year uninterrupted high school and college education of each child. Such costs
shall be defined to encompass each child's room, board, tuition, books and
required fees, and one-half of the cost of not more than four round-trip airline
tickets per year between the school attended by each child and the home of the
child. The Husband and Wife will consult with each other and make a joint
decision (taking the child's wishes into account) with respect to the high
school and college that each child shall attend.
Education of Children; Duty to Pay; Post-High School Education with Definition
(See also: Educational Expenses; Defined) (1) In addition to all other obligations of the Husband under the terms of
this Agreement, the Husband will pay any and all expenses in connection with the
"post-high school education" of each of the parties' children which expenses
consist of tuition, room, board, books, and/or costs as required by the
educational institution. The room and board expenses shall be for either campus
or off campus housing; if such child lives off campus the amount to be paid by
Husband for room and board shall be substantially similar in cost. For purposes
of this Agreement the term "post high school education" shall mean: Attendance
at any junior college, four year college or their respective equivalents
including a technical or vocational school or school for specialized training.
The Husband's obligations under this paragraph 1. shall not extend to the
payment of any graduate school costs, i.e., costs involving a child's education
in pursuit of a master's degree, or a doctorate. (2) The provisions of this Article are intended to be controlling as to
the Husband's obligation to pay for the children's post-high school education
and the parties agree that the provisions of Section ____ of the Domestic
Relations Law of the State of __________ shall neither affect nor a limit the
Husband's obligations hereunder.
(3) In addition, the parties shall each pay 50% of the following expenses
incurred by each child in seeking post-high school education placement (prior to
matriculation): school application fees; school selection costs, SAT preparation
costs or equivalent tutoring; testing fees; and children's travel costs for
interviews.
Education of Children; Duty to Pay; Post-Secondary School Education with
Definition (See also: Educational Expenses Defined) The Husband shall be obligated to pay for the post-secondary school
education of the children of the marriage. Post-secondary school shall include,
in addition to an accredited college, any university or community college
granting a recognized degree, any graduate or professional school, and any
institution providing technical or vocational training.
Education of Children; Duty to Pay; Pre-College Expenses (See also: Education of
Children; Duty to Pay; Tutoring) The Husband shall be responsible to pay 50% of the children's pre-college
related expenses, defined as S.A.T. tests (maximum of two per child),
application fees for college (maximum of ten at $____ per college, per child);
costs of sending high school transcripts to each college; transportation for
each child to and from colleges required in visiting same. Said bills are
payable within thirty days of receipt.
Education of Children; Duty to Pay; Primary and Secondary Education (See also:
Education Expenses; Defined) (1) The Husband guarantees payment will be made for the non-boarding
school private primary and private secondary school education expenses of the
children provided they are residing within such area which will require
attendance at such non-boarding primary or secondary school.
(2) Private primary and private secondary school education expenses are
hereby defined to include tuition, books, reasonable transportation costs,
required fees, and any other required expenses. The Husband further agrees that
he will also include within such expenses the related expenses of
extracurricular school activities, provided he gives his prior consent thereto,
which consent will not be unreasonably withheld.
Education of Children; Duty to Pay; Private School and College Expenses (See
also: Educational Expenses; Defined) The Husband agrees to provide for the children's private school and
college expenses, including the cost of education, fees, books, uniforms,
transportation, after-school activities and related expenses commencing with the
_____ school term.
Education of Children; Duty to Pay; Tutoring (See also: Education of Children;
Duty to Pay; Pre-College Expenses) The Husband agrees to pay up to $______ per child of the costs associated
with tutoring for college preparatory and entrance tests on behalf of the
children. The Husband agrees to pay all costs associated with the taking of
college preparatory and entrance tests and for any and all college applications
of both children. In addition, the Husband agrees to pay all costs associated
with tutoring required to assist each child with his or her studies.
Education of Children; Duty to Pay; Vocational Training: See Education of
Children; Duty to Pay; Post-Secondary School Education with Definition
Education of Children; Funds Saved for College to Be Transferred to a Trust on
the Remarriage of Either Parent
The parties agree that in the event that either of them remarries:(1) prior to the marriage, any of the described funds accumulated
for the children's college education which have not theretofore been expended
will be transferred into a trust with the non-marrying party or a mutually
acceptable third person as trustee, and (2) the party who remarries will have a duly executed and valid
prenuptial agreement which specifically segregates the college funds designated
for the each child as a non-marital asset of the new marriage.
Education of Children; Private School Education Provided to One Child Need Not
Be Provided to Other Children Notwithstanding the fact that one of the parties' children has attended
and continues to attend private school, neither party shall be obligated to pay
for a private school education for any other child of the marriage.
Education of Children; Selection of School; Procedure Should Parties Disagree If after having consulted with each other with respect to the child's
education, the parties disagree on a matter concerning the child's education,
the matter shall be submitted to the then director of the school the child is
then attending (or such other appropriate specialist as shall be agreed to by
the Husband and Wife) for determination. Such determination shall be binding
upon the parties. In the event that the school director (or such other specialist) shall
have selected a school for the child and, in the event the Husband, who hereby
agrees to pay for the child's special educational needs, shall dispute the cost
of the tuition and/or his ability to contribute to said schooling, then either
party may submit the issue for resolution before a court of competent
jurisdiction for a determination of the appropriateness of such payment. The
court may base its conclusion on factors that include but are not limited to the
cost of tuition and the parties' economic ability to contribute to said tuition.
The court may also determine the apportionment of tuition costs between the parties.
The court is also authorized to reject the school selected by the school
director (or such other specialist) if it determines that the cost of said
schooling is too expensive. However, the expense of the educational facility
shall not be the only reason pursuant to which the court is permitted to
invalidate the choice selected by the school director (or such other
specialist).
Educational Expenses; Defined Clause 1:
The term "educational expenses" shall mean the tuition, room and
board, application for admission, registration, required books, laboratory and
athletic fees, premiums for any insurance coverage which the institution
requires to be obtained, respecting any private primary or secondary school or
at an undergraduate college or university attended by any of the children prior
to their emancipation, together with the cost of two round trips for each child
per academic semester by minimum fare via the customary mode of transportation
between such institution and the Wife's then abode (if more than 100 miles
distant from such institution). Any college or university education is to be
limited to four full years to be completed within six years after high school
graduation (computed, however, to exclude time in active military service and/or
illness or disability of longer than six months' duration). Clause 2:
The "children's education" shall be defined as the cost of tuition
at any college, room and board, and purchase of books or necessary equipment for
such schooling. This will not include transportation, traveling, personal
expenses, etc.Clause 3:"College education expenses" shall be defined as tuition, room and
board, books and other reasonable costs, such as travel (including travel for
college interviews) and activity expenses, one (1) Scholastic Aptitude Test
(S.A.T.) review course, the cost of the S.A.T. examination, and the cost of four
(4) applications to college.
Educational Tours: See: Summer Camp
Emancipation Event; Change of Custody by Court Order An event of emancipation, as that term is used herein, shall occur or be
deemed to have occurred if there is a change of custody by written agreement or
court order.
Emancipation of Children; Defined
Clause 1:A child shall be deemed, for the purpose of this Agreement to have
become emancipated, upon the earliest happening of any of the following events: (1) Attaining the age of twenty-one years or graduation from
college, whichever is the later of the two.
(2) Marriage of the child, even though such marriage may be
void or voidable, and despite any subsequent annulment thereof, or living
habitually with a person of the opposite sex in a husband/wife relationship.
(3) Permanent residence away from the residence of the Wife. A
residence at boarding school, college or camp is not to be deemed a residence
away from the residence of the Wife sufficient to constitute emancipation.
(4) Death of the child.
(5) Entry into the Armed Forces of the United States, to
continue only so long as the child is a member of the Armed Forces before
attaining the age of majority, so that in the event of discharge before
attaining majority, the child shall be deemed not to have been fully
emancipated.
Clause 2:For the purposes of this Agreement, a child shall become emancipated
upon the first of the following to occur:
(1) The child reaching the age of twenty-one years, unless
such child is attending college on a full-time basis and working toward a
recognized degree at an accredited institute of higher learning, in which event
such child shall not be deemed emancipated until the earlier of such child's
(a) ceasing to attend college, or
(b) attaining the age of twenty-five years.
(2) Such child entering into military service or attaining
full-time permanent employment (excluding jobs during school vacation periods or
for other periods not exceeding twelve months). (3) Such child marrying.
(4) Such child dying.
(5) Such child failing for any other reason (including
permanent removal to the Husband's home, but not including residence at school,
college or camp), to continue to maintain his or her principal residence at the
Wife's home. With respect to subparagraphs (2) and (5), if such child shall
cease such military service or full-time employment, or shall resume his or her
principal residence at the Wife's home, in all cases prior to the occurrence of
any other emancipation event, such child shall be deemed to be unemancipated
from the date of such cessation or resumption until the next occurring
emancipation event.
Clause 3:(1) With respect to the children, an emancipation event shall occur
or be deemed to have occurred upon the earliest happenings of any of the
following: (a) Reaching the age of twenty-one years or the completion of
four years of uninterrupted higher education immediately following the child's
graduation from high school (unless interrupted by good cause), whichever last occurs; (b) Marriage.
(c) Permanent residence away from the residence of the wife. A
residence at a boarding school, camp or college is not an emancipation event. (d) Death.
(e) Engaging in full-time employment, in an intended permanent
position, and after the attaining by the child of eighteen years of age, except
and provided that: (i) Engaging by the child in partial employment shall
not be deemed an emancipation event; and
(ii) Engaging by the child in full-time employment not
intended to be permanent, full-time employment during vacation and summer
periods, and employment pursuant to a school "sort/study" or "work/study"
program shall not be deemed emancipation events. (f) Such emancipation shall be deemed terminated and nullified
upon cessation by the child, for any reason, from full-time employment; and the
period, if any, from such termination until the soonest of any other
emancipation event shall, for all purposes under this Agreement, be deemed a
period prior to the occurrence of an emancipation event. (2) Despite anything contained in subparagraph (a) of Paragraph (1)
above, an emancipation event shall be deemed deferred beyond the twenty-first
birthday of the child only if, and so long as:
(a) The child pursues higher education with reasonable
diligence and on an uninterrupted and continuous basis as hereinbefore provided, or
(b) The child is disabled and unable to work full-time or
attend full-time classes.
(3) Higher education does not include education in the evening,
unless said education constitutes a full course of study normally ending in four years.
Emancipation of Children; Temporary Emancipation Event (See also: Emancipation
of Children; Defined) Entry of the child into the military service, public health service,
VISTA, Americorp, or the Peace Corps is to be considered an emancipation event,
but such emancipation is to continue only as long as the child is active in any
of the above-mentioned services. In the event of discharge the child shall again
be deemed to be unemancipated until the occurrence of another emancipation event.
Equitable Distribution; Reimbursement for Advances Pending Sale of Marital Home The Husband shall pay to the Wife, as and for her support and maintenance,
the sum of Fifty Thousand ($50,000) Dollars per year, payable monthly, for a
period of two years following the date of execution of this Agreement or until
the marital home is sold, whichever is sooner. The Husband shall be reimbursed,
except for payments attributable to child support, for any sums paid to the Wife
until closing of title on sale of the marital home as hereinbefore provided.
Said payments shall, further, terminate sooner if the Wife shall remarry or die
prior to the termination of maintenance as herein provided. The payment to be
made by the Husband to the Wife under this provision shall not be taxable to the
Wife nor deductible to the Husband for any income tax purpose.
Escrow Account; Liquidation of Assets and Division of Proceeds(1) The parties have established an escrow account at the ______ Bank (the
Account). The escrow agents are the parties' respective attorneys, ______ for
the Wife, and ______ for the Husband. The following amounts have been deposited
into the Account: (a) $____ on _____, 20__ (the proceeds of the auction sale of two
paintings); (b) $____ on _____, 20__ (the proceeds of the sale of a wine
collection);
(c) $____ on _____, 20__ (the proceeds of the sale of a coin
collection);
(d) $____ on _____, 20__ (the proceeds of the auction sale of three
paintings);
(e) $____ on _____, 20__ (the proceeds of sale of certain real
property to Mr. and Mrs. ______); (f) $____ on _____, 20__ (the proceeds of sale of certain personal
property to Mr. and Mrs. ______); (g) $____ on _____, 20__ (the proceeds of sale of the parties'
former marital residence at ______); and
(h) $____ on _____, 20__ (the proceeds of sale of an automobile,
less $200 which the Husband expended on repairs).
(2) In addition, the Account:(a) earned and accumulated interest during 20__ in the amount of
$__; and
(b) will have earned and accumulated interest, dividends and/or
other appreciation during the portion of 20__ that the Account is in existence
in an amount to be determined. (3) Simultaneously herewith, the escrow agents shall issue checks out of
the Account:
(a) to the Husband, for his payment of expenses incurred in
connection with the sale of the parties' former marital residence, including
legal fees, broker's commissions and repair and maintenance expenses, in the
amount of $____; and (b) to the Husband, for his payment of the 20__ income taxes due as
a result of the income and gains earned in connection with the sales and
earnings set forth in Paragraphs ___ and ___ of this Article in the amount of
$______; and (c) to each of the parties in the amount of $____, representing one-
half of the balance remaining in the Account after payment of the amounts set
forth in paragraphs (a) and (b) above. (4) Promptly after their deposit into the Account of ____ each payment
received from ______'s pursuant to Article ____, Paragraphs ____ and ____ above,
the escrow agents shall pay half of such amounts to both the Husband and to the Wife.
Escrow Accounts; Transfer of Interest in on Conveyance of Marital Home Clause 1-Husband transfers to Wife all interest in escrow accounts,
security deposits and insurance policies in connection with marital home:
The Husband hereby assigns, transfers and sets over unto the Wife
any and all right, title and interest that he may have or might otherwise
hereafter acquire in and to any and all bank escrow monies, prepaid insurance
premiums, escrow for real estate and other taxes, and security deposits on and
with respect to utilities on said home. The Husband similarly hereby assigns,
transfers and sets over unto the Wife any and all rights that he may presently
have or might otherwise hereafter acquire pursuant to the fire and other
insurance policy or policies as may exist with respect to said home.Clause 2-Husband entitled to escrow account and is authorized to endorse
Wife's name on escrow check:
The parties hereby agree that the escrow held by the _____ Bank for
the marital residence shall hereinafter belong solely to the Husband and the
Wife waives any and all claims thereto. The Husband is authorized to receive a
check from the _____ Bank for the refund of said escrow, to endorse the Wife's
name thereon, and to retain the proceeds derived therefrom.
Escrow Agent; Appointment of on Sale of Marital Home It is agreed by and between the Husband and the Wife that __________,
Esq., or any successor attorney representing the parties with respect to sale of
the marital residence, is appointed as escrow agent as and for receipt of all
funds obtained by means of the aforesaid sale. The escrow agent shall, after
payment of closing costs, disburse the remaining funds to each spouse in
accordance with the provision of this Agreement.
Estate; Claims Against for Unpaid Amounts Notwithstanding any provision to the contrary contained herein, the
Husband's estate shall pay to the Wife, within ninety (90) days after the
Husband's death, the unpaid amount of maintenance, child support and/or
distributive share as hereinafter set forth due at the time of death, and the
said estate shall perform all the Husband's obligations under this Agreement
which the Husband failed to perform prior to his death and shall remedy all the
defaults on his part. The Wife shall have a creditor's claim against the
Husband's estate for three (3) years to perform any and all of the provisions of
this Article.
Estate; Transfer of Real Property on Death of Proprietary Spouse Clause 1-Transfer of full interest in reality to Wife on death of Husband:If owned by the Husband at the time of his death, the Husband will
devise to the Wife by Will all of his right, title and interest in and to the
property located at ________, free of all liens and encumbrances of any kind,
the same to be transferred to the Wife within ninety days of the probate of the
Husband's Will or as soon thereafter as shall be practicable. In addition,
during the Wife's lifetime, all expenses relating to the upkeep, maintenance and
repair of the property shall be paid by the Husband's estate. Clause 2-Transfer of limited interest in reality to Wife on death of
Husband: If the house located at ______ is owned by the Husband at the time
of his death, the Husband shall make such provisions in his Will giving the Wife
the right to use and occupy said house on a rent-free basis until she dies, or
until she remarries, or cohabits or establishes a place of residence with
another man, whichever event shall first occur. During the period of such
occupancy by the Wife, all carrying charges relating to such house, including
insurance, mortgage interest and amortization, if any, taxes, assessments, and
the expenses of general maintenance and repair shall be paid by the estate of
the Husband.
Estate; Voluntary Bequests-Agreement not to constitute waiver of any bequest by
either party to the other; no promises made with respect to any bequest (See
also: Death of Party; Bequest of Marital Home-Estate; Waiver of Right to Share
in Estate of Other Spouse)
Clause 1:Nothing in this Agreement shall be construed as a wavier or
renunciation by either of the parties of any bequest or devise made to him or
her, as the case may be, in the Last Will and Testament of the other, but each
of the parties acknowledges that no representations or promises of any kind or
nature have been made to him or her with respect to any devise, bequest, or
other testamentary benefit.Clause 2:Nothing in this Agreement shall be deemed a bar to either party
naming the other as a beneficiary in any will he or she may draw.
Estate; Waiver of Right to Share in Estate of Other Spouse (See also: Death of
Party; Bequest of Marital Home-Estate; Voluntary Bequest-Release of Claims) Clause 1:
Each party hereby releases, waives and relinquishes any and all
rights which he or she may now have, or may hereafter acquire, except as set
forth in this Agreement as the other party's spouse under the present or future
laws of any jurisdiction or under any will or testamentary writing now in
existence: (1) to share in the estate of the other party upon the
latter's death, and (2) to act as executor or administrator of the other party's
estate. This provision is intended to, and shall constitute, a mutual waiver by
the parties to take under any existing will or testamentary writings, now or
hereafter in force, under the present or future laws of any jurisdiction
whatsoever. The parties intend, by the aforedescribed waiver and release, to
relinquish any and all rights in and to each other's estates, including the
right of setoff, any and all distributive shares, and all rights of election as
each and all of these are provided for by the laws of the State of _______, or
any prior or subsequent similar provision of law of this or any other
jurisdiction. However, the foregoing shall not bar a claim on the part of either
party against the other for any cause or causes arising out of a breach of this
Agreement during the lifetime of the deceased party, or against the estate for
all arrears and/or liabilities for all payments the deceased and his or her
estate was or is obligated to make pursuant to the terms of this Agreement. Clause 2:(1) Each of the parties hereto, for herself and himself,
respectively, and for her or his heirs, legal representatives, executors,
administrators and assigns, hereby releases, waives, relinquishes and renounces forever: (a) Any right of election which she or he may have or
hereafter acquire regarding the estate of the other, or any codicil thereto,
whether heretofore or hereafter effective, of the State of ________, or the laws
of any other state or territory of the United States or any other jurisdiction.
(b) All right, title and interest and all claims whatsoever
(including, without limitation, all rights or claims in a distributive share in
the case of intestacy as provided for by the laws of this State), all rights of
set-off, and all other inheritance rights, and all dower, curtesy and community
property rights and interests that she or he may have or hereafter acquire under
the laws now or hereafter in effect in the State of _______, or any other state
or territory, or any other jurisdiction, in the estate of the other, or the real
and personal property of the other, wheresoever the same may be situated and
whether acquired before or after the date of this Agreement. (c) Any and all claims and rights that she or he may have or
may hereafter acquire to act as executor or administrator of the other party's
estate; provided, however, that nothing contained above in this Article shall
constitute:
(i) A release or discharge of either party or such
party's estate or property, of or from any of such party's covenants,
agreements, promises, representations, warranties or other undertakings or
obligations set forth in other Articles of this Agreement or a release, waiver,
relinquishment or renunciation by either party of his or her right, or the right
of her or his respective heirs, legal representatives, executors, administrators
or assigns, to require and enforce performance of the other party's covenants,
agreements, promises, representations, warranties and other undertakings and
obligations set forth in other Articles of this Agreement.(ii) A release, waiver, relinquishment or renunciation
by either party of any devise, bequest or other provisions for the benefit of
such party which may be set forth in the last will and testament (or any codicil
thereof) of the other as to which party shall be expressly designated
beneficiary. (2) The consideration for each party's waiver and release is the
other party's reciprocal waiver and release. Clause 3:
(1) Upon the death of either party (the "Deceased Party") to this
Agreement, the other party (the "Survivor") does hereby agree to reject,
forfeit, forego and waive any statutory or intestate interest, or other right or
interest, which would otherwise be conferred on or vested in him or her, as the
case may be, with respect to any property, real, personal or intangible, now
owned or hereafter acquired by the Deceased Party, and hereby does release the
Deceased Party and his and her estate, as the case may be, from any and all
intestate interest or distributive share which the Survivor might otherwise
become entitled to receive upon the death of the Deceased Party, and the
Survivor hereby covenants and agrees that he or she will permit any Will of the
Deceased Party hereto to be probated and allow Letters Testamentary (or
Administration in the event of no Will) to issue on the estate and effects of
the Deceased Party, with the same force and effect as if the Survivor had
predeceased the Deceased Party. (2) Each party hereto does hereby waive any and all rights accruing
under any section of the Estates, Powers and Trusts Law of the State of New York
or that may hereafter accrue under said law (or successor law) or under any
other law of the State of New York or any other state, possession or territory
of the United States or under any other law of any foreign nation, and does
particularly, and without limitation, waive any and all rights, which have
accrued or which may hereafter accrue to either of them by reason of Section 5-
1.1 of the Estates, Powers and Trusts law of the State of New York (entitled
"Right of Election by Surviving Spouse") or Section 5-3.1 of the said statute
(entitled "Exemption for Benefit of Family"), or by any amendment or extension
of either such Section, and each hereby specifically waives any and all rights
or claims or election that he or she may at any time have to take any share of
the estate of the other party hereto under any circumstances whatsoever. Clause 4:
Each party may make disposition of their respective estates as he or
she shall deem appropriate, and each hereby waives and relinquishes all rights
he or she may now have or hereafter acquire under the present or future laws of
any jurisdiction with respect to the estate of the other except to the extent
provided herein regarding failure to pay insurance premiums. Nothing contained
herein shall be construed to preclude any party from making a disposition in
favor of the other.
Estrangement of Children: See: Child Custody; Contact Between Child and Parents-
Children's General Welfare
Expenses; Proof of-Wife to submit bills to Husband (See also: Medical Expenses; Proof of)
All bills that the Husband is required to pay pursuant to this Article
shall be submitted by the Wife to the Husband, by mail, prior to the requirement
of said payment.
