What are your options should you decide to separate but not divorce?
In the event that you are unable or do not wish to issue divorce or legal proceedings, the options regarding financial issues are more limited.
They include the following:
If both parties are able to reach an agreement regarding financial matters then a Separation Agreement can be drawn up to reflect the terms of the agreement reached. Once signed this agreement will be legally binding, except in exceptional circumstances.
If no agreement can be reached and one spouse is left in need of financial provision, then it is possible for that spouse to bring a claim for maintenance and/or a lump sum in the court. The spouse would have to show that the other spouse failed to provide reasonable maintenance for the applicant or a proper contribution towards the reasonable maintenance for any child or children of the family.
It is possible for a person who has an interest in the property to make an application to the court for this to be sold to enable them to get access to the money they have invested in the property.
It is also important to note that when you separate it may result in one of you becoming entitled to Welfare Benefits such as Income Support or Tax Credits.
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