You may not have heard about community property agreements (also known as agreements to split property equally), but the core concept is one that all Denville families have to deal with, whether they are dealing directly with it or know about it. It’s one of the more important issues in the world of family law, because it has major ramifications on the lives of not only you and your spouse or partner but on the lives of your children as well if they ever choose to play youth baseball and try out for the Denville Baseball teams.

The community property agreement template is similar to how most of the youth baseball teams that play in town form their lineups. Each player has a unique set of skills; each position is uniquely important to the outcome of every game. A baseball team is “fair” when it consists of nine essentially equal players, all of which would be capable of playing at the highest level in any position.

Naturally, some kids excel over others, but every baseball player knows that success is the result of teamwork and a mutual understanding of everyone’s strengths and weaknesses. Translating that into the world of finances, the end result is that where one person is weak, another person can excel. And where two parties are in agreement and view each other’s unique talents subjectively instead of in terms of personal worth, it’s simpler to divide property in a way that both parties find agreeable and fair and that will not be compromised by any sense of grievance.

This arrangement is by no means universal, even within the context of a baseball team. But where every player understands that the primary objective is winning, they will always be flexible, within healthy limits, with the positions they play.

Most parents who help out with Denville youth baseball understand that it can get expensive. Upwards of 1,000 children in grades kindergarten through eighth grade play on nearly 100 teams, and when you consider the cost of practice and game equipment, uniform costs, transportation fees, and the cost of basic refreshments at the snack bar, the costs can add up quickly.

What if a team needs a new pitcher? What if a player gets injured and needs to be replaced for the season? Who pays for what? And most importantly of all: What happens if you don’t have the money?

The average expense for outfitting a single sports team in any context can grow to $30,000 or more per season. Prior to entering the world of youth baseball, it’s a good idea to draft a community property agreement template that outlines how both parents are going to allocate funds to the team, as well as how they can fairly resolve any conflicts in which they absorb any additional expenses. Most families don’t see the need for this until a surprise expense arises, such as an emergency medical bill.

A number of Denville parents playing in youth baseball have incorporated this practice into their sport, and it’s paid off. For example, Junior Perez Mosley recently tried out for the Denville Redclaws and earned a spot on the club. His parents had very limited income and could not afford the fee for transportation to practices and games. Thanks to the community property agreements and the generous donations of local parents, his expenses were completely covered for the entire season.

A single pitch can change a game, and every pitch depends on teamwork and an understanding of the needs of the individual players. Denville youth baseball families understand their individual financial needs and goals, and as long as they continue to work as a team, they will continue to succeed.

Denville parents, consider formulating a community property agreement template before your child begins to play summer baseball. The results can be simply remarkable.

For more information on family law and agreements, you can visit Nolo’s Family Law Overview.

Posted in Uncategorized