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Marital settlement agreements, also known as divorce settlement agreements, marital termination agreements, separation agreements, or stipulations of settlements, are written contracts between divorcing spouses of their responsibilities and rights after divorce. Once formed, both parties are legally bound to them.
If you dont see any financial benefit from a legal separation and are certain you want to end your marriage, it might be best to go straight to a divorce. Otherwise, youll spend time and money getting a legal separation only to have to go through the process all over again to get a divorce.
While a divorce legally dissolves the marriage, a legal separation is a court order that mandates the rights and duties of the couple while they are still married but living apart.
The biggest difference between separation and divorce is that a separation leaves a marriage legally intact while a divorce terminates the marriage. Divorce is permanent, and a divorce order is extremely difficult to appeal.
Its a Faster Decision The court decisions made in a legal separation are made almost immediately, while the details of a divorce can be drawn out for months or even years. The decisions made may not be ideal for either person, but it does provide a vantage point so that each person can move forward.
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There are many factors to consider, including assets, incomes, living expenses, inflation, alimony, child support, taxes, retirement plans, investments, medical expenses and health insurance costs, and child-related expenses such as education.
Coercion, fraud, undue influence or lack of knowledge will void the terms of a separation agreement. A separation agreement is not proof of the parties separation. It is not required for a divorce in North Carolina, and it doesnt make a divorce in North Carolina easier or more difficult to obtain.
Disadvantages of Legal Separation Legal separation typically does not entitle you to your spouses assets, whereas a divorce would force a division of current assets. Cant Remarry: You may heal and be ready for a future relationship given enough time. A legally separated person cannot marry a new person in the U.S.
A Separation and Property Division Agreement (also known as a settlement agreement) is a written agreement setting out how a couples property is to be divided following their separation.
Legal Separation in Colorado A legal separation is when a couple divides assets and lives separately, but they are technically still married in the eyes of the law. Legal separation is not the same as if you and your spouse decide on your own to split assets and live apart.

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