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My husband and I have been married 10 years and have recently in the last month separated. We know we will be getting a divorce in the future, but don't know if we should wait until later due to filing taxes next year. We aren't fighting about finances or anything at this point and want to make sure to be able to file our taxes so that neither of us ends up paying. Don't know if we should wait or go on and file divorce now? Is there a difference in a legal separation? We do not have any children together.
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Commercial Litigation Attorney serving Frisco, TX
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Reid Dennis & Frick, PC
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There is no proper legal status called a "legal separation." It is legal, meaning not unlawful, for spouses to separate at any time, with or without the ultimate goal of obtaining a divorce. In practice, spouses usually separate at or before the time one files for a divorce.Your marital status as of the end of your tax year will determine what marital status to claim on your federal tax returns. Your accountant would best be able to explain to you whether it will be to your advantage to complete a divorce proceeding before the end of the year to take advantage of the "single" filing status or whether it would be to your advantage to wait to complete a divorce next year in order to file either a "joint" tax return or "married, filing separately."There is a mandatory sixty day waiting period in Texas from the time you file for divorce before a divorce can actually be granted. In practice, because of the time it usually takes to negotiate and prepare a final decree of divorce and schedule time with the court for a prove-up, I'd give it six months.
Answered on Jul 24th, 2023 at 9:37 AM