BROOKLYN, New York. Many couples who are going through a divorce begin the process with a separation. It is often the first step divorcing couples need to take to begin dividing their lives. Yet, some couples fail to move beyond the initial separation process, delaying divorce for sometimes years at a time. While rushing to divorce can cost you, delaying your divorce can also cost you.
If you are considering a separation, here are some reasons why divorce might still be your best option:
Debt and investment decisions made by your ex can impact your financial well-being. According to Forbes, you could be on the hook for any debt your ex amasses while you are separated, but not divorced. Divorce formally disentangles you from your ex financially and legally. If you are only separated, anything you do while apart can have a mutual impact on your financial lives.
If you find a girlfriend or boyfriend, it could complicate your divorce. Adultery or infidelity can complicate any divorce, and if you are in this situation, you should speak to a qualified divorce lawyer as soon as possible. But, if you separate, and then later meet someone new, the new person could also make a divorce settlement harder to reach. Any money you spend on a new partner can complicate a financial settlement in divorce, or could complicate alimony.
Closure. Finalizing your divorce brings a level of closure separation simply cannot achieve. Once you are officially divorced, you are free—legally, financially, and emotionally, to embark on a new journey in your life.
Still, there might be many good reasons why couples might choose long-term separation instead of divorce. Woman’s Day recently reported on a study conducted by Ohio State University that found that many couples who cannot afford to divorce, choose long-term separations instead. Couples might choose to remain legally tied together so that one partner doesn’t lose health insurance or other benefits.
There might be a new incentive to separate before divorcing, at least for 2019. The new tax law regarding alimony awards has just gone into effect and the courts are still navigating its impact in new divorce cases. Couples who can wait, might choose to separate first and then divorce so that their divorce attorneys can get a better grasp of how courts will interpret the new alimony tax laws when dividing assets and when making alimony awards. Precedents will likely be set in the coming months. If you plan to wait to divorce for financial reasons, tax reasons, or emotional reasons, you’ll still want a separation agreement in place. A separation agreement can cover all the important details that a divorce agreement would cover—like child custody matters, division of assets and debts, and other important details.
If you are considering getting divorced or separated in Brooklyn, New York, reach out to the family lawyers at the Elliot Green Law Offices today to learn more about your rights and options. Our firm can help you finalize your divorce agreement or separation agreement to protect your family and your interests. Visit us at https://elliotgreenlaw.com/ to learn more.
Elliot Green Law Offices
32 Court Street, Suite 404
Brooklyn, NY 11201