Most people tend to think of separation as a final step before divorce. It might surprise you to know that many couples actually choose to remain legally separated indefinitely. In most cases, couples make this choice for financial reasons. To understand how a legal separation might benefit you, it’s important to know the difference between informal separation, legal separation, and divorce.
Informal Separation
When couples are having problems, they may decide that they need to live apart from each other while working things out. This can help decrease the amount of daily conflict in the marriage, and it can give both partners time to think or seek counseling. In an informal separation, couples agree on bill-paying arrangements and childcare or visitation between themselves. In the eyes of the law, both partners have the same rights and obligations as any married couple, including shared debt, shared property, and shared custody.
Legal Separation
A legal separation involves a written contract stipulating each partner’s liability for debts the other incurs during the separation, or how assets are divided when jointly owned property is sold. A legal separation will also include a child custody and visitation agreement, the terms of child and spouse maintenance payments, and agreements regarding division of property. The terms of a separation can influence the terms of an eventual divorce. If you’re considering this route, it’s worthwhile to hire a legal separation attorney in Katy, TX to represent your interests.
Divorce
A divorce dissolves a marriage completely so that each party is treated as single in the eyes of the law. If you’re divorced, obviously, you’re free to remarry. You will not file taxes with your former spouse or inherit from them.
Financial Benefits of Legal Separation
For one thing, if you are separated but still legally married, you can continue to receive benefits from your spouse’s health insurance. If you have not yet been married for ten years, it might make sense to remain separated until you’ve reached that mark so that you will be eligible for social security benefits based on your spouse’s income. Remaining married allows you to take advantage of tax benefits for married couples, and it also allows you to keep some military benefits if your spouse is a veteran. To speak with a legal separation attorney in Katy, TX, Contact The Vendt Law Firm, PLLC.
