Should You Make Your Divorce Official? Here Are Dangers of Not Doing it
You’ve probably heard of someone who’s been separated for years from their spouse, yet neither party has bothered to make the divorce official. While it can seem normal, it can end up with costly consequences such as losing a significant portion of assets built up over the years or one party may end up paying maintenance.
Without a formal legal agreement that sets the terms for your separation, you may be in a disaster before you even know it. Here are some reasons why you should be worried about a long-term separation.
You have no control over how your spouse manages marital assets
If you’ve lived separately for some years, you may not know what your spouse is selling, buying, investing or earning. Suppose your spouse gets into debt, you’ll also get into debt especially if he/she using joint credit cards.
Your spouse may use this chance to hide assets from you
While you may see no urgency in filing for a divorce, your spouse could take advantage of this to make certain assets unavailable. When you finally discover what they’ve been up to when you decide to divorce, you’ll be in for a rude shock.
Alimony laws could change
Alimony laws change from time to time. The more you delay, the higher the likelihood of laws changing in your state.
Your spouse could move to another state/country
Most states have severe limitations on the amount and the duration of alimony the judge can award. During your separation, your spouse can move to another state with these set limitations. This could make the divorce
process more complicated.
Despite having been separated for years from your spouse, the law still sees this as a marriage. If your career blossoms while your spouse struggles to make ends meet, the court has the right to award assets and support in spite of the long-term separation. If you would like to file for divorce, it’s important to consult a denver divorce attorney who will guide you through the steps you need to take.