• Retain certain military benefits.

Pool certain resources. For some couples, maintaining two separate households is simply too expensive. Some decide to divide their home into “his” and “her” areas, so they can maintain a certain lifestyle (albeit one that’s now separate). However, a decision to pool certain resources is not necessarily straightforward. In the case of alimony, for example, the IRS maintains that: "Spouses cannot be members of the same household. Payments to your spouse while you are members of the same household are not alimony if you are legally separated under a decree of divorce or separate maintenance. A home you formerly shared is considered one household, even if you physically separate yourselves in the home. You are not treated as members of the same household if one of you is preparing to leave the household and does leave no later than 1 month after the date of the payment." In other words, alimony would not be tax deductible by the payor, if they are living in the same household.

Not everyone opts for a legal separation based solely on financial reasons. In some cases, other considerations come into play. For example, some couples remain separated for religious reasons. One spouse, or both, may come from a religious background that frowns upon divorce. Separating, but not divorcing, may be the “ideal” solution for them. Other couples may find that they still love each other, but just can’t live together. Separation may be the optimal choice for them, too.

As you can see, the decision to legally separate rather than divorce can be quite complex. Weigh your options carefully. Consult with qualified divorce professionals so you can make smart choices that will help keep you financially secure both short- and long-term.

Jeff Landers is the President and Founder of Bedrock Divorce Advisors, a divorce financial strategy firm which exclusively advises affluent women throughout the United States before, during and after divorce. Jeff is the author of the new book, Divorce: Think Financially, Not Emotionally - What Women Need To Know About Securing Their Financial Future Before, During, And After Divorce, which provides women going through the crisis of divorce with the tools they need to secure their financial future. He is donating 50 percent of all book profits to Bedrock Divorce Fund for Abused Women, Inc. For your free article on Understanding How Assets Get Divided in A Divorce click here.