SCPA Legal Document

SCPA STIPULATION AND SETTLEMENT AGREEMENT

This Stipulation and Settlement Agreement (the "Agreement") is made as of by and between Petitioner Name: and Respondent Name: .

RECITALS

WHEREAS, Petitioner has commenced a proceeding under the Surrogate's Court Procedure Act (SCPA) in the Surrogate's Court of the County of , docket number (the "Proceeding"), concerning the estate of Decedent Name: .

WHEREAS, a dispute has arisen between the parties regarding the administration, distribution, and/or allowance of claims asserted in the Proceeding; and

WHEREAS, the parties desire to settle and resolve all disputes between them relating to the Proceeding, without further litigation, subject to approval by the Surrogate's Court where required by the SCPA.

NOW, THEREFORE

In consideration of the mutual covenants and other good and valuable consideration set forth herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings set forth below:

"Court" means the Surrogate's Court of the County of .

"Claim" means any claim, demand, cause of action, or allegation arising out of or related to the Proceeding or the Decedent's estate.

2. SETTLEMENT TERMS

Petitioner shall cause the estate to pay to Respondent the total sum of (the "Settlement Amount") in full and final settlement of all Claims, subject to the approvals required by the SCPA and the Court.

Payment of the Settlement Amount shall be made by check or other instrument payable to: , delivered to:

3. CONSIDERATION; COURT APPROVAL

The parties acknowledge that this Agreement contemplates and conditions its effectiveness upon such approvals as may be required by the SCPA and the Court. If Court approval is required and not obtained, this Agreement shall be null and void and the parties shall be returned to their respective positions as of the Effective Date without prejudice, except as otherwise agreed in writing.

4. RELEASES

Upon full payment of the Settlement Amount and final Court approval, Petitioner, on behalf of the estate, its successors and assigns, hereby releases and forever discharges Respondent and Respondent's agents, attorneys, heirs, and assigns from any and all Claims, demands, actions or causes of action, whether known or unknown, arising from or related to the Proceeding or the administration of the Decedent's estate through the Effective Date.

Respondent hereby releases and forever discharges Petitioner and the estate from any and all Claims, demands, actions or causes of action, whether known or unknown, arising from or related to the Proceeding through the Effective Date.

5. REPRESENTATIONS AND WARRANTIES

Each party represents and warrants that it has the full right, power and authority to enter into this Agreement, that the person signing on its behalf is duly authorized, and that the Agreement constitutes a valid, binding and enforceable obligation of the signing party.

6. CONFIDENTIALITY

The parties agree to keep the terms, amount, and circumstances of this Agreement confidential, except as required by applicable law, Court order, or to effectuate the terms of this Agreement, provided that disclosure required for Court approval shall not be deemed a breach of this Section.

7. NOTICES

All notices, requests, demands and other communications required or permitted hereunder shall be in writing and shall be delivered to the parties at the addresses set forth below (or to such other address as a party may designate by notice in accordance with this Section) and shall be effective upon receipt.

8. COSTS AND ATTORNEYS' FEES

Except as otherwise expressly set forth herein, each party shall bear its own costs and attorneys' fees incurred in connection with the Proceeding and the negotiation of this Agreement. Any award of costs or attorneys' fees by the Court shall be handled as provided in the Court's order.

9. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws applicable to matters arising under the SCPA and the laws of the State of , without regard to its conflicts of law rules, except where SCPA or Court rules expressly control.

10. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations, and understandings of the parties, whether written or oral.

11. SEVERABILITY

If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it enforceable, and the remaining provisions shall remain in full force and effect.

12. AMENDMENTS; WAIVER

Any amendment to this Agreement must be in writing and signed by both parties. No failure or delay by any party in exercising any right hereunder shall operate as a waiver of such right.

13. COUNTERPARTS

This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.

14. ADDITIONAL PROVISIONS

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