The Importance of the Date of Separation

The date of separation means something in different states. In the State of New Jersey, for example, this is the date that spouses no longer live together. However, sometimes spouses don’t always move out right away, so a judge will use other factors to determine this date.

This date is also important for determining marital debt or assets as from this date on anything earned or acquired is each individual’s separate possession. For instance, any income that is earned after this date is one’s own money and doesn’t need to be shared. However, if a couple separates in the middle of the year and a spouse earns a yearly bonus, it may be decided that half of the bonus is actually marital property. In terms of stock, the value of the stock on the date of separation is used to determine which each spouse should receive. In terms of alimony, a court may order one spouse to pay temporary payments from the date that they left the residence.

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