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What are the Benefits of Having a Marital Separation Agreement Prior to Divorce?

Tuesday, 22 February 2011

blog-logoIt is hard enough to keep financial records organized when a couple is getting along well, but when they separate it can be next to impossible.  Couples in Colorado who try to maintain their marital financial obligations while living apart can become very frustrated.   That’s why so many separated couples have an attorney prepare a marital separation agreement.  This document allows the parties to keep their financial lives separate while they remain legally married. 

While monthly bills, real estate and marital assets may be the biggest concern, a marital separation agreement covers a lot more than just finances.  It also allows couples to tackle issues such as child custody, visitation, spousal support and child support.  Basically, everything that must be covered in a divorce settlement is included in a marital separation agreement. 

So what is the difference between the two?  A marital separation agreement allows the couple to stay married, and it does not cover issues such as inheritances.  In rare cases, separated couples are allowed to maintain joint benefits from insurance policies as well.  But the biggest reason why couples choose separation over divorce is because many religious faiths frown on divorce. 

Some couples choose to create their own marital separation agreements, but given the seriousness of such a document they should give serious consideration to consulting an attorney.  Family lawyers are familiar with the language that must be included in such a document, and will make sure that no important elements are left out.   

If you are considering a legal separation in Colorado, a Colorado Springs family lawyer can help you draw up a marital separation agreement.  Call the Marrison Family Law LLC today for a free consultation.

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