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A custody agreement, also known as a parenting plan, is a legal document that outlines the rights and responsibilities of divorced or separated parents. It can be filed during divorce proceedings or as a separate custody petition. In this video, key points include: essential terms for a New York custody agreement such as legal custody (decision-making authority about education and healthcare), physical custody (the child's living arrangement), and visitation rights. The video also explains steps to file for custody in New York and how to modify an existing custody agreement. For more resources, viewers can access a link to create their custody agreement through an extensive online database of legal forms.