Going for divorce means you are legally separating from your spouse. You can remain single or remarry at your will. If you are not ready for this break, you can evaluate alternatives with an expert Alabama divorce lawyer
So if you are not considering divorce but still want to live separately, you can consider ‘Separation’ as an option. It does not fall into divorce because you are legally still married.
But separation would mean changes in the financial relationship with your spouse.
There are three different types of Separation; Trial, Permanent and Legal.
In a trial separation, you live separately from your spouse, and nothing else changes legally.
Marital property law is still applicable. If you and your spouse hope to reconcile, you may make an informal agreement with rules of separation. You may consider adding the below points in it:
-How will you share the expenses
-if you will continue with the joint accounts
-if there are children from the marriage, who and when each of you will spend time with them.
If you decide on divorce and there is no scope for reconciliation, then the trial separation agreement can help create a marital settlement agreement.
If you stay separate from your spouse without considering reconciliation, then the law considers you permanently separated.
Every state has different laws for permanent separation wherever you stay. In some states, permanent separation may change the property rights between the couple. Any property or assets acquired during the permanent separation will belong to the spouse who earns them.
Similarly, any debt taken would be solely on the spouse who took it. Also, none of the spouses is entitled to share any property or income acquired during this period.
What are some shocking facts about permanent separation?
Suppose you have left in a tiff and are living separately for a month and earned bonuses during this period. In that case, your spouse can claim to be theirs unless you have made a separation agreement with the terms on the finances mutually agreed.
Hence, it is essential to note and stamp on the separation date to take no undue advantage.
Also, if you have decided on a permanent separation, do not meet your spouse for the sake of happy moments since that may change the date of separation and indirectly result in financial actions for your spouse.
If you are considering separation instead of divorce to keep insurance benefits, you must check with your insurance company since some consider separation the same as divorce to terminate insurance benefits.