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for what comes next...
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Separation
Many couples decide to dissolve their marriage short of absolute divorce and need help with forging an agreement that equitably divides marital property, takes care of the parties’ economic needs, and sets the ground rules until the parties are ready for a no fault divorce after 12 continuous months of separation. Just because a spouse agrees to a no fault divorce does not mean that there is not a great deal of property at issue. In fact, the longer parties are married, the more property pitfalls there may be. A separation agreement is a contract and once fully executed, the terms of that separation agreement are generally binding. Therefore, it is imperative that a person entering into a property settlement agreement consult an attorney to protect his or her rights under the Marital Property Act and other important provisions. Separation agreements can touch on, among other things, the following issues:
- estates issues
- real property rights
- alimony
- monetary award
- marital debt
- health insurance
- pension rights and retirement assets
- tax liability issues
