| •If your separation later turns into a divorce, the | | | | maintaining insurance coverage which would terminate |
| manner in which you have divided your personal | | | | upon divorce, check the policy language carefully. |
| property may well be the manner in which that | | | | Some insurance companies are now including language |
| property becomes divided for the purposes of the | | | | which will cause coverage to lapse in the event of a |
| divorce. That is, it is not unusual for a divorce | | | | legal separation. |
| settlement attorney staten island or judgment to | | | | •Remember that separated couples remain |
| award separated parties the personal property that is | | | | married to each other. If you expect that you will |
| in their own possession. If there are important | | | | wish to remarry, you will ultimately have to go to |
| belongings that, for one reason or another, you will | | | | court to obtain a divorce. |
| leave with your spouse upon separation, you may | | | | •Remember to separate your finances. Ordinarily, |
| wish to make specific note in your separation | | | | the money in a joint bank account belongs to both |
| agreement that both you and your spouse intend | | | | people named on the account. That is, if you are |
| that property to come to you in the event of | | | | placing money into the account, your spouse may |
| divorce. | | | | have a legal right to withdraw all of that money even |
| •If you contract for the division of property in | | | | if you are separated. If your name appears on a |
| your separation agreement, that contract will likely be | | | | lease or mortgage for the residence where your |
| binding upon you in the event of divorce. For | | | | spouse will live, you will remain liable for payments. |
| example, if your separation agreement assigns the | | | | Similarly, if you continue to share joint credit |
| marital home to one spouse, and details how the | | | | accounts, including credit cards, or your name |
| equity will eventually be divided, absent a new | | | | appears on any utility bills (phone, gas, electrical, etc.) |
| agreement by both spouses it is likely that you will | | | | you will ordinarily be liable for any debt incurred by |
| be bound by that earlier agreement upon divorce | | | | your spouse even after separation. It is thus wise to |
| attorney staten island. | | | | separate your finances, and to obtain credit cards |
| •Insurance companies make money when they | | | | and bank accounts in the individual names of each |
| deny claims. If you are separating for the purpose of | | | | spouse, as part of the separation process. |