Not all couples live happily ever after. However, just because a couple decides not to continue living together does not necessarily mean a divorce is imminent. In fact, there can be advantages to long term separation for some couples.
Financial Benefits to Remaining Married
Many married couples enjoy the benefit of health insurance from one party’s employer. Divorce almost always ends the health insurance benefit for the spouse. Remaining legally married may extend coverage for the spouse as well as the children of the marriage.
Pension benefits and social security benefits tend to increase over time. Extending the length of the marriage may provide an advantage later, by allowing the benefits to maximize.
Delaying divorce finalization may also be in the parties’ best interests when real estate is involved. The family home is typically a couple’s biggest asset. If the real estate market is in a slump, the parties may benefit by delaying the completion of the divorce and the sale of the home until the market is more favorable. Additionally, retaining the family home allows for the children to remain in a place that is familiar during a time of upheaval.
Non-Financial Benefits of Long Term Separation
Some couples believe remaining married is easier on their children. Others feel there are social benefits to remaining legally married. Some couples remain married for religious or cultural reasons. Finally, some couples separate but are uncertain whether divorce is right for them. A legal separation allows the parties to define roles and obligations of each, while keeping the marriage intact.
Why You Should Consider Hiring a Lawyer to Assist in Separation
A separation occurs when the parties decide to either not live together any longer, or to live their own separate lives under the same roof. A legal separation, on the other hand, protects the parties by entering into a legal and binding contract. This contract addresses the same sorts of issues a divorce filing addresses, including custody of the children, any child support obligations, and the like.
For further information or schedule a consultation with attorney Zachary D. Smith, LLC to discuss the benefits a legal separation might have for you and your family please call (513) 275-1164 or visit www.ZDSLaw.com toady.