Legal Separation
Definition of 'Legal Separation'For all practical purposes, a circumstantial divorce without a legal decree. Legal separation usually entails a court order that two spouses can live apart as unmarried persons, except that they are still married. A couple that is legally separated must still deal with the typical divorce-related issues such as alimony, child support, child custody and property division. |
|
Investopedia explains 'Legal Separation'Legal separation is considered an alternative to divorce for those who may have religious or social objections to an actual divorce. This process can also be used in some cases as a basis for long-term reconciliation. However, the growing trend toward informal separation and no-fault divorces is making this more formal legal process increasingly obsolete. |
Related Definitions
Articles Of Interest
-
Taxing Times For Divorced Parents
Find out how to deal with the tax issues that arise for divorced parents with dependent children. -
Get Through Divorce With Your Finances Intact
Find out how to split your finances without coming up short. -
Getting A Divorce? Understand the Rules Of Dividing Plan Assets
Learn how different rules of asset handling apply to various retirement plans. -
Marriage, Divorce And The Dotted Line
Does signing a prenuptial agreement put your marriage on shaky ground, or is it just smart planning? -
I will be receiving monies from a QDRO executed pursuant to my divorce. I would like to take a portion of the money as a distribution to pay for a new home. What are the tax implications of doing this?
There are several issues to consider: The early distribution penalty - Assets distributed from a qualified plan in accordance with a qualified domestic relations order (QDRO) are exempted ... -
How Divorce Can Adversely Affect The Economy
Divorce not only affects the people involved, it also affects the nation's economy. -
To Invest Or To Reduce Debt, That's The Question
Find out how you can make use of that excess cash and improve your financial situation. -
Marriage: For Richer Or Poorer?
Marriage can be like doubling an income, as long as you avoid doubling these expenses. -
Top 6 Marriage-Killing Money Issues
Strengthen your marriage by discussing these financial pitfalls. -
Financial Implications Of Keeping Your Maiden Name
Equality, career options and finances can all play a role in a woman's choice to keep her maiden name, or hyphenate it, once she gets married.
Free Annual Reports