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After a divorce, the couple is no longer married. A court order will finalize the marriage dissolution, and a divorce decree issued by the judge will include provisions regarding property division, childcare, child custody, visitation, and alimony payments, if applicable. After a divorce decree is signed, each ex-spouse is free to remarry. However, some states require that they wait for a certain period of time before tying the knot again.
Choosing between a legal separation or a divorce , will ultimately depend on the circumstances of each couple. For example, people will often choose legal separation when their religious or moral values prevent them from seeking a divorce. Spouses may also decide that a legal separation makes more sense financially as they can retain the tax benefits from being legally married and keep their current health insurance plans.
Divorce is sometimes a better option for couples as it terminates a marriage, allowing each ex-spouse to remarry if they choose. Further, if marriages end on bad terms, a divorce is sometimes preferable because the couple does not need to interact or be tied to each other financially moving forward. Even if the desire to end a marriage is amicable, and there are no hard feelings between the spouses, a divorce gives each person much more freedom to start a new life without the other.
As stated above, there are different types of separations that couples can choose between. Depending on the type of separation spouses pursue, there are varying impacts on property division and financial rights that should be fully understood before deciding which approach to take.
Most property acquired during the marriage with marital funds will be considered marital property and belonging to both spouses. However, depending on whether your state is a common or a community law one, different things might be considered separate/marital property.