A Separation Agreement is a legally binding agreement between you and your spouse
that covers the period of time from when you separate until the time that the divorce is made
final. It is a document that outlines the terms of the couple's separation, and generally
resolves all issues relating to child custody, child support, division of property, and
alimony. To be valid, a separation agreement must be in writing, signed by both parties,
and notarized.
A legal separation is normally the first step in a divorce. In most, if not all States, you
must be legally separated for some period of time (90 days is typical) before your
divorce can be made final.
At the time of legal separation, debts and property are usually 'frozen' and made
separate for each party. During a legal separation, if your ex goes out and runs up
huge credit card bills (for example), you aren't responsible for them in the eyes of the
court. (You may still be responsible for them in the eyes of the creditors, however.) You
are also generally prohibited from disposing of (or converting) marital assets during this
time.
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