When a divorce is not yet filed, individuals can opt for a long-term separation. This means that the couple is still considered married even though they may be living separately. Some couples are complacent with long-term separation, but for many this isn't the best of arrangements. This is because individuals often have no control over how their spouse is managing assets.
When couples are living apart but their property has not yet been divided, one party can be thrown out of the loop financially. Sometimes a spouse will be unaware of how the other spouse ins investing, selling, or buying property. Those who live in community property states could have to take on a spouse's debt that he or she racked up on a joint account during a long-term separation.
Long-term separation can also lead individuals to the temptation to hide some assets. One spouse may decide to hide accounts for valuables so that the assets are unavailable when it's time to negotiate a divorce agreement. IN addition to this, the longer you remain in a separation, the more you are opening the possibility of a circumstance change that could affect your settlement.
When a spouse loses his or her job, or receives a pay it, it could affect the settlement that you get in the divorce. Also, if your spouse becomes ill or foe son disability during separation then you may not receive child support or alimony as a result. It is important to be aware of how circumstances can change your divorce settlement and factor this into the division of when to file.
In addition to this, long-term separations provide the opportunity for a complicating relocation. A spouse may choose to move out of stat or out of the country, making this difficult. Normally during a divorce a spouse is not allowed to relocate out of the county, but during a long-term, separation your spouse may have every right to move. He or she may even choose to move to a state that will permit a higher alimony award.
Also, the longer that you wait to file for divorce, the higher the possibility that alimony laws could change in the state. Your spouse may be able to use alimony laws to his or her advantage if you wait too long to file. Also, your spouse may meet a new partner during the separation, and this could complicate the divorce procedure. Individuals may use the shared assets to fund their new relationship, which can make divorce settlements extremely messy.
According to Forbes, long-term separation can often lower the standard of living for both spouses as a result. During long separations, you may be forced to get alimony based on your previous marital lifestyle, and will not be able to maintain the same standard of living because you have divide many of your assts.
Also, if your spouse gets into legal trouble with finances while you are still separated, then chances are that this will affect you was well. Divorcing before a foreseeable bankruptcy or before debt becomes overwhelming is always wise, as you may be able to avoid being involved in the bankruptcy to follow.
Long-term separations can also result in difficult disagreements and may require the need for a mediator. This can be extremely difficult. Getting on with your divorce is the best way to move on with your life after a difficult relationship, so it is best to avoid hesitation and dive right into the divorce procedure. Hire a divorce lawyer near you to get started on your case today!