Italian separation and its economic consequences
Separation constitutes one of the unfortunate events connected with an unsuccessful marriage. Specifically, during separation, spouses stop their cohabitation with the purpose of decide whether or not proceeding with a divorce; which cancel all spouses’ responsibilities and duties.
Judicial or consensual separation has several economic consequences. For instance, a first relevant impact is given by the dissolution of spouses’ economic regime (provided that spouses have not chosen separation asset regime). However, the economic consequences also cover economic relations between the spouses and third parties. Subsequently, any spouses’ creditor, in case of insolvency, will not be able to attack spouses’ estate.
Another consequence is about family home assignment. Within this context, property rights and interests need to be evaluated in the light of children interest in living within the same familiar environment. In the event the spouses have no children, the property regime of former family house is relevant. In case of a shared property, spouses can ask for a judicial division of the property. On the contrary, if one of the spouses is the house owner, then the house might be assigned to the owner; unless spouses reach an agreement on this point.
In the event of consensual separation, spouses’ agreement – once homologated – will regulate spouses’ economic and social relations also in connection with the children. Specifically, the agreement will regulate the assignment of familiar house, eventual alimony or child support, et cetera. Contrarily, the judicial separation has certified spouses inability to reach an agreement. Based on that, Courts decision will regulate future relations between spouses and their children.
VGS professional are able to assist you in every stage of your separation process. Our lawyers have achieved brilliant results negotiating the best condition for our clients. Should you need any information in relation to this matter, please contact us through the online form you find in our website. You will receive a first answer within the next 24 hours.