Usually, when people hear the word ‘legal separation,’ they think about people in the midst of high conflict divorce proceedings. However, there are lots of reasons legal separation can be beneficial to both individuals and couples. In this particular article, we will focus on the benefits of legal separation in Illinois, and explain why those in the hemp industry should find it particularly interesting. For those growing, selling, or producing hemp, legal separation can be particularly important because the law is very particular about the growing, cultivating and producing of hemp. And legal separation can be a way to employ agile thinking to make both individuals and businesses more successful.
So, what exactly is a legal separation?
Technically, a legal separation is filed in the same manner as a divorce. The main difference is that the couple has not filed for divorce, or intends to remain married after having filed for their legal separation.
It’s important to understand why you are filing for legal separation before you file, because once you have filed, you have made a legal promise that you don’t intend to legally separate from your spouse. If it goes to trial, or if information is required in court, the promises of separation are scrutinized. So, if you started your separation with the intention of reconciling after some time away, this information might be brought up in court.
What are the benefits of legal separation? Why know about it?
One of the major reasons individuals and couples file for legal separation in Illinois is so they can figure out what they want from their lives. If you are in the hemp industry and the cultivation, production or selling of hemp means more to you than your personal relationships, then separation might be a great way to give yourself some breathing room while you sort things out.
What are some other advantages of legal separation besides personal relationships?
A legal separation can also have financial benefits. Financially, it can impact how a person divides their assets or files their personal tax returns. Both individuals will have outstanding debts or obligations, and this separation makes it clear which financial obligations belong to each party.
Also, it can help to clarify where each person stands in relation to ownership of properties or businesses.
In your particular case, understanding the law around legal separation can be beneficial to the success of your hemp business.
Above all, legal separation allows individuals to create boundaries that weren’t defined before. For hemp enthusiasts, this can mean creating a way to legally separate themselves from any personal relationship obligations so that they can focus on a successful hemp future.
For more information on legal separation, you can visit Illinois.gov.
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