top of page

Best Lawyer Attorney

All information about Lawyer

5 Financial Benefits of a Legal Separation Agreement

If you are experiencing marital problems and have decided to separate in a state that recognizes legal separation. You need to hire a lawyer for the legal separation agreement before both spouses sign it, and it should be a smooth process if you and your spouse easily come to terms. There are several financial benefits for getting legal separation a few listed below. If you are paying spousal support, those payments can be claimed as a deduction at tax time if the payments are part of the legal separation agreement.

034273904cb962bea23ce718fc791db8ca94e8cc

But lawyer if you didn’t have any legal agreement any monies given to your spouse cannot be deducted at tax time. By using Legal separation agreement you can use certain benefits you held during the marriage. In a legal separation agreement, who is responsible for what portion of the upkeep of the home is outlined and clearly stated the boundaries between the joint accounts? Most couples use the same bank account, savings, and credit accounts.

​

A legal separation agreement would clearly define about both spouses still has access to any joint accounts. It may stipulate that all joint bank accounts be closed and each spouse open accounts in their names. It may also stipulate which spouse pays how much on any joint credit accounts held by the couple. All issues about how money is spent and who is responsible for what is outlined so that both spouses will be protected.

​​

By using agreement you can protect yourself from being responsible for any debt your spouse acquires during the period of separation if you live in an equitable distribution state. If you live in a community property state, you don’t get this protection under a legal separation agreement.

bottom of page