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What to know about marital separation

Even under the best circumstances, not all Dayton marriages survive. Many couples are thrown into limbo about whether their marriage will end in divorce or not. Many times, couples choose to separate for a certain time to see how their marriage will turn out. But, if a couple is planning on separating for more than a few months, there are certain things they may need to do.

A couple who is considering a separation may want to understand how their marital finances work. Many times, one of the spouses is in charge of the finances, while the other doesn't have any idea what their finances entail. A person should also get a credit card in their own name. A person needs to make sure they have established credit in case their marriage ends in divorce. Additionally, all joint credit cards should be closed to prevent one spouse from putting the other into a devastating situation.

A couple may also want to consult with a divorce and dissolution attorney to create a legally binding separation agreement. This separation agreement should include who is liable for debts incurred during the separation, child and spousal support, how marital assets will be divided and who will be paying the bills, health insurance needs, retirement savings division, and a waiver of inheritance for the other's estate, if necessary. Many times, a couple chooses to remain separated for a long time and these legally binding agreements are important.

A marriage separation is common among Dayton residents. A couple should make sure they make steps to protect themselves and their financial needs.

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Altick & Corwin Co., L.P.A.
One South Main Street
Suite 1590
Dayton, OH 45402

Toll Free: 888-542-3148
Phone: 937-608-9460
Fax: 937-223-5100
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