The Date of Separation is important because that is the day the community has come to an end…i.e., every dollar you make is no longer 1/2 your spouses. If you decide to purchase a home, start a business, etc., you no longer have to share that asset 50/50 with your spouse. However, you need to make sure you and your spouse agree to the date of separation, you cannot just arbitrarily pick a date that you think will be most beneficial to you…and the although it sounds nice and straight forward, it can still be tricky…so ALWAYS consult with a professional before making ANY decisions based on this general information…:)
by: Amanda Singer
