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These issues should be resolved as early as possible, and especially if substantial assets and a number of properties are involved.
A legal separation agreement, correctly drafted, settles any spousal support or child support disputes prior to a divorce; resolves tax issues, debts, and other financial matters; and addresses access to credit cards, bank accounts, lines of credit, and equities.
While a legal separation in the state of Indiana is not a formal divorce, is not an annulment either.
It is a legal agreement between marriage partners to live separately, although simply living apart does not by itself establish a “legal” separation.
A legally separated spouse may or may not be able to benefit from the other spouse’s health insurance, so before filing for separation, check your health plan; some plans cover legally separated spouses and others do not.
After a divorce, however, the parties go their separate ways.
A divorce in Indiana is legally called a “dissolution of marriage.” To file for either a divorce or a legal separation, a least one partner must be a resident of Indiana or stationed at a U. military installation in the state of Indiana for at least six months immediately preceding the filing.
And before any divorce in Indiana can be finalized, a judge must determine that the marriage has suffered an “irretrievable” breakdown.Others treat legal separation as the equivalent of a trial divorce – to try living apart to “see how it goes” before choosing to end the marriage permanently.When the marriage partners agree that a divorce is in fact the goal of their legal separation, it’s the right time to start the daunting task of evaluating and dividing marital property and assets.For example, a spouse cannot be held accountable for the other spouse’s personal debts after a divorce is finalized.In the state of Indiana, a legally separated couple is still a legally married couple.
Indiana law prohibits a legal separation from lasting for more than a year, although a legally separated spouse does not have to wait a for a year to file a divorce petition.