Completely dissolving your marriage with your spouse may seem overwhelming. Fortunately, you have additional options if you want to separate and divide your assets while remaining legally married. By entering into a legal separation agreement, you can determine the distribution and division of assets, income, and debt, create a parenting plan for any minor children in your home, and more.
Rather than going through the process alone, consider consulting an attorney familiar with entering legal separation agreements in Hartford. A skilled separation agreements attorney can help you reach your goals by confirming the validity of the contract and protecting your rights along the way.
Separation agreements cover all aspects of a couple’s finances, such as alimony and child support, as well as the division of retirement accounts, bank accounts, real property (such as houses), personal property, and liabilities. In terms of children, separation agreements will address parenting schedules to determine when the children will be spending time with each parent.
Once a couple enters into a separation agreement, individuals are legally and financially separated from their spouse, so they are not responsible for any debts or liabilities the other party may incur after the separation. However, if the individual later decides to pursue a divorce, the court may reassess whether the financial arrangements at the time of the divorce continue to be fair and equitable.
Once the separation agreement is finalized with a court, parties are unable to add additional terms. However, an individual and their local attorney can file a motion to modify any support obligations such as spousal or child support based upon a substantial change in circumstances, such as significant increases or decreases to either parties’ income.
There are a variety of similarities between filing for divorce and filing for a legal separation, as both will create an articulated division as to each party’s assets and debts, determine the amount of spousal and child support to be paid, and address issues relating to child custody.
Although divorce agreements and separation agreements have similar elements, they accomplish different goals. Individuals who enter into a legal separation agreement, however, allows the couple to remain married, but conduct their finances separately. Also, a legal separation agreement can be dissolved by a court in the event the couple decides to resume their relationship in the future.
To ensure the terms of a separation agreement are fair, consider consulting an experienced family law attorney. Legal counsel can assist an individual in ensuring they receive a complete and accurate financial disclosure from the other party and advise them on what is a court may consider fair and equitable as to the division of assets and debts. An attorney can also draft the separation agreement to protect the individual’s income, property, and custodial rights. A judge will only approve the separation agreement if it is fair, equitable, and in the best interests of any minor children.
There are a variety of reasons an individual might be interested in entering into a legal separation. Some parties utilize the agreements to postpone a divorce until the future, while others may want to legally separate for financial, religious, or medical reasons. Regardless of your circumstances, if you and your spouse are considering separating but do not want to formally dissolve your marriage, you may want to consider entering into a legal separation agreement.
An attorney with experience in helping individuals negotiate, draft, and enter separation agreements in Hartford can help you achieve your goals while keeping your best interests in mind. Contact the firm today to schedule a consultation.
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