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Legal separation (sometimes judicial separation, separate maintenance, divorce a mensa et thoro, or divorce from bed-and-board) is a legal process by which a married couple may formalize a de facto separation while remaining legally married. A legal separation is granted in the form of a court order. In cases where children are involved, a ...
However, even if the first day of legal separation or divorce from the spouse is December 31, one cannot file a joint return for any portion of that year. [7] Certain married individuals, not legally separated or divorced, may still be considered single for purposes of filing tax returns if they are living apart. [8]
Marriage is a legal institution as well as an emotional one. It has implications that range from your tax status to debt, contracts, legal rights, medical oversight and much more. So when it comes ...
Other couples may separate as an alternative to divorce for economic or religious reasons, for tax purposes, or to ensure continuing retirement and/or health insurance benefits for both spouses. A separation can be initiated informally, or there can be a legal separation with a formal separation agreement filed with the court.
Alimony payments from divorce or separation agreements that were finalized before Jan. 1 are still considered an above-the-line deduction when filing taxes.
In some states, separation is a triggering event, recognized as the end of the term of the marriage. Other states do not recognize separation or legal separation. In a state not recognizing separation, a 2-year marriage followed by an 8-year separation will generally be treated like a 10-year marriage. Age of the parties at the time of the divorce
Legal separation describes a state that you can think of as being somewhere between marriage and divorce. The partners' union is not formally dissolved, although legal separation can be a step ...
The key similarities between a legal separation and a divorce are: Any new income that you earn after the date of separation is yours alone and not typically considered a marital asset;