Questions re: seperation


#1

My husband and I are living together currently, but August 1st (when our lease is up), my husband will leave and we will begin the 12-month physical seperation period pending divorce. I have been a stay-at-home mom for nine years and am currently a student. My classes will end about the time that he leaves and I will definitely not have a job by then. Questions…

What do I need to do to secure a seperation agreement so that I have at least SOME financial support after he leaves?

He is currently creating LOTS of debt for himself by opening credit cards, only paying the minimum, etc. Up til that point, we’d had zero debt. Will I be responsible for any of that?

Do I need to protect the financial assets that I have now in my own name (savings/checking) somehow?

Thank you.


#2

To get a separation agreement, you have to mutual agree to the terms, have it drafted, and prepare to execute it at the time you separate.

If debt is acquired during the marriage, it will be deemed marital if used for marital purposes. Any assets in your name that were acquired throughout the marriage, not by gift or inheritance, are also marital. At this point, it may be hard to protect yourself and these assets, but if anything is separate property, your spouse should not have a claim to it.