Consider a legal separation versus divorce if you and your spouse decide you can no longer live under the same roof. Although divorce legally dissolves your marriage, waiting to take this final step has benefits. A legal separation or court order mandating your rights and duties while living apart may provide you with many of the benefits found in a divorce but may work out better. Here are some benefits of a legal separation prepared by your family lawyers not found in a final divorce decree.
1. A Legal Separation Is Reversible
While you may think that your marriage is over, sometimes things change. Time spent apart, calmer emotions, professional counseling, and more communication can sometimes mend broken marriages.
Although your legal separation prepared by family attorneys and filed with the court may have already spelled out property division, child support and custody, and other issues, the agreement is reversible. If you decide to get back together, the court can cancel any arrangements currently in effect.
If you divorce, the divorce is final. The only way to reunify is to remarry.
2. Insurance Coverage
Do you carry insurance on your spouse, or do they carry insurance on you? You have this ability as long as you are legally separated, but you cannot do so once divorced. A divorce would mean you no longer have an insurable interest in the other person and would end the insurance coverage.
3. Joint Taxes
As long as you are legally separated, you are eligible to control to file your taxes jointly, which can sometimes result in tax benefits for both of you. These tax benefits may come from multiple tax credits you both qualify for. Some of these may include:
- Earned Income Tax Credits
- Child and Dependent Care Credits
- Lifetime Learning Educational Credits
By filing jointly, you also qualify for one of the most significant standard deductions each year, which reduces your taxable income. You also receive a higher income threshold for certain tax breaks, such as the government's deduction for IRA contributions.
4. Social Security Or Military Benefits
You must be married for a certain number of years if you have anticipated drawing Social Security or Military benefits based on your spouse's record. A legal separation keeps the clock ticking to qualify you for these benefits potentially. This qualification is essential if you include these benefits in your projected income. If you divorce, you may no longer qualify.
Contact local family lawyers to learn more.
You love your family. You want your kids to have what is best, and you are willing to fight for them to the very end. Thankfully, there are professionals out there who are able to support you and do the same. They're called family lawyers. Although they typically handle a lot of divorce cases, you can call upon them for other family-related legal needs, too. They oversee adoptions, draft custody agreements, and so much more. We hope you will read the articles on this blog, which delve deeper into these topics. You'll emerge knowing more about hiring such an attorney.