If you and your spouse plan to separate for more than a few months in an effort to salvage your marriage, it is highly recommended that you draw up a legally binding separation agreement to protect yourself financially.
A legal separation agreement will address many issues including who will be liable for debt incurred during the separation so there are no surprises down the road. Although, the date of legal separation typically signals an end to the accumulation of marital debt, if there are still joint accounts, you will want to be clear about how expenditures will be handled should you go on to divorce.
You and your spouse will also want to decide how you will divide marital assets during the short term to pay bills, and the longer term, such as who will be occupying the house and for how long and whether they will be solely responsible for the mortgage payments and maintenance as an example.
If there are minor children involved, child support will have to be determined as well as deciding who will have parenting responsibilities and how you will divide parenting time. The agreement should have a provision to continue health or other insurance needs for the children also.
Contact An Illinois Legal Separation Agreements Attorney
Certainly, there are many more issues to consider if you and your spouse decide to separate. An Illinois legal separation agreement mirrors many of the same issues you will confront in a divorce, so any information you obtain will be invaluable if you and your spouse eventually split. It is important to discuss a potential separation in more detail with your family law attorney, who can advise you on the best way to proceed. Contact the Libertyville family law offices of Schlesinger & Strauss LLC for more information at 847-680-4970.
