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7 Smart Steps You Can Take to Protect Yourself Financially in... Establish your own bank account. ... Monitor and separate your debt. ... Take control of your credit score. ... Consider mediation instead of litigation. ... Talk about retirement. ... Be honest.
Here's what you should not do during a separation. Letting others influence you. When you and your spouse decide to separate, consider keeping this information private. ... Moving out. ... Jumping into a new relationship. ... Making rash decisions. ... Punishing your spouse.
You might get things like: a share of your partner's pension - including State Pension or private pension plans. regular maintenance payments to help with children or living expenses.
Things You Should Not Do During Legal Separation Do Not Move Out of Your Family Home. ... Do Not Rush into a New Relationship. ... Do Not Deny Your Partner the Right to Co-Parenting. ... Do Not Involve Your Family Members and Friends in Your Separation Process. ... Do Not Sign Any Documents Without the Consent of Your Lawyer.
You Can't Remarry if You Are Legally Separated Another disadvantage of a legal separation is that it doesn't end your marriage. You can't remarry if you are legally separated. Therefore, you and your spouse must remain married on paper, even if you live apart and consider yourselves divorced.
Short- or long-term spousal support, also called separation maintenance (or alimony in a divorce) may be required if one partner is financially reliant on the other. You may also be entitled to spousal support if your marriage lasted a certain period of time, or because of a variety of other factors.
Is financial support still required? If both spouses are financially independent and capable of sustaining themselves without assistance from the other, financial support during separation may not be required. However, this can vary depending on the specific circumstances of each case.
Here's how to handle your finances during a legal separation: Have tough financial discussions. Understand your financial picture. Keep accurate records. Open new, separate accounts. Pay joint debts. Think about retirement accounts and insurance.