The Elliot Green Law Offices are separation agreement lawyers in Brooklyn, New York who may be able to assist you if you are getting separated. Having a separation agreement in place can be the most important step you can take to protect your rights, your children, and your finances. In fact, because separation offers fewer protections than divorce, it is incredibly important to pay close attention to this agreement before you live apart from your spouse.
Sometimes couples don’t always choose to get divorced right away. This is understandable because divorce can be a very big step. Sometimes couples may want a trial period apart before they decide to file for divorce. Others may not choose to get divorced for financial reasons or for health care insurance reasons. While it is generally in both parties’ best interest to eventually divorce (divorce confers individuals with important legal protections and rights, including the right to remarry), some couples may choose to get separated first to determine whether divorce is right for them. If you plan to get separated in Brooklyn, New York, it is important to take your separation as seriously as you would a divorce. Separating couples still need to take steps to protect their financial interests, their children, and their rights. The Elliot Green Law Offices are separation agreement lawyers in Brooklyn, New York who may be able to assist you if you are seeking a separation.
What Should Be Included in Your Separation Agreement?
The Elliot Green Law Offices are divorce lawyers in Brooklyn, New York who can help you with different aspects of your separation agreement. A strong separation agreement should consider all the factors that any good divorce agreement would take into account. In fact, if properly done, a separation agreement can often be the basis of your divorce agreement once you plan to get divorced. Get the foundation of your separation and divorce right. Contact the Elliot Green Law Offices in Brooklyn, New York today. What are some things that should be included in your separation agreement?
- Both you and your former partner need to make decisions about how you’ll divide bank accounts and debts. Debts can often survive even a divorce agreement, so a sound separation agreement should make clear who owns what and who is responsible for which debts. The agreement should also make clear that any debts either party takes on after the agreement date are the debts of each individual party and should not be considered marital property. One of the big risks of separating rather than getting divorced is that any debts taken on by either party during the marriage could be considered marital property and therefore shared debts. Individuals who are separating may also want to divide their bank accounts during the separation, to begin creating separate financial lives.
- Both you and your former spouse will need to make a decision about what will happen to the family home if you own a home together. Some couples choose to sell their home, while others make other arrangements, like buying out the other partner’s interest in the home or assuming responsibility for the mortgage. When making decisions about who will get the family home, both parties need to consider their income and debts and determine whether the home can be supported by only one individual.
- Child custody. If you and your former partner will live in separate homes during your separation, you’ll want to have a clear child custody agreement and parenting plan in place. If you plan to live separately during your separation, a sound parenting plan is essential to protecting your children’s best interests, maintaining stability during what can be a tough transition, and creating a foundation for what can be your parenting plan should you and your partner ultimately decide to divorce.
- Dividing retirement accounts. It might be wise to divide retirement accounts during your separation. Any money spent during your separation or any withdrawals made during your separation—even if these withdrawals are not your decision could impact your tax burden. It is important to take steps to protect your rights and interests.
- Insurance. If you and your former spouse share an insurance plan, your separation agreement may need to take into consideration how insurance will be handled. If one partner’s insurance will continue to cover the other spouse, payment should be outlined in the separation agreement.
- Child support. If the children will reside predominantly with one parent, the non-custodial parent will be responsible for paying child support. It is both parent’s responsibility under the law to support their children. Child support is part of that requirement.
- Spousal support. If you believe you might be entitled to spousal support, spousal support may also be considered in a separation agreement. The Elliot Green Law Offices are separation agreement lawyers in Brooklyn, New York who can help you determine whether you may be entitled to receive spousal support. Our firm can assist you with including spousal support in your separation agreement.
A sound parenting plan can protect your rights if you are in the process of getting separated. Any financial decisions your partner makes, spending, debts, or withdrawals can end up being your shared responsibility if you are not careful to clearly delineate financial responsibilities in your separation agreement. The Elliot Green Law Offices are separation agreement lawyers in Brooklyn, New York who may be able to help you navigate the legal and practical aspects of your separation.
Should I Divorce or Separate?
Divorce is a legal step that formally ends a marriage. If you are certain that your marriage is over, divorce may be your best option. However, sometimes couples aren’t completely sure they want to take the final step of divorce. Sometimes couples want a few months where they can live apart and decide whether to finalize their divorce. There are other good reasons why couples may choose to not get divorced right away. Sometimes families don’t want to lose their health coverage access or the tax benefits that marriage provides. Families may need time to make financial plans before finalizing their divorce. Other times, couples share a family home or own a home together and cannot afford to live apart or afford to sell their home. While there are good reasons why couples choose to separate before getting divorced, couples are also wise to avoid delaying divorce for too long. The Elliot Green Law Offices are divorce lawyers in Brooklyn, New York who can help you work through some of the tough financial questions that divorce can raise.
