If you're going through a divorce or have gone through one in the past, you and your spouse may have elected to live apart for a while beforehand. This trial separation can help you decide if you're ready for the next step of filing legal papers.

But couples can also decide to remain separated and forgo the process of divorce. Why make this choice? How is it more beneficial than ending the marriage altogether? For some couples, the motivation is financial.

Couples who plan to live apart for an extended period of time will often sign a separation agreement, which is a legally binding document that resolves issues including asset and property division, spousal support, child support and child custody. The reason for doing this is to indemnify you from any financial risks that come up while you're living apart -- for example, if your spouse runs up a high debt in that time. Because you're still married, creditors could come after you for the debt your spouse has amassed. A legal document clearing you of any responsibilities for your spouse's financial actions can offer valuable protection. A separation agreement also allows you to divide assets up front before your spouse decides to spend them while you're separated.

The longer people remain separated, the more contentious these issues can become, in part because your communication is likely to lessen or break down altogether. Settling financial matters and coming to an agreement on issues you're likely to fight over later can prevent problems down the road. And if you do decide to divorce, the separation agreement can easily be transformed into a divorce settlement agreement.

Ohio is one of several states that recognize legal separation (not all states do), but it's not required before a divorce. How do you know if it's a good choice for you? It may depend on several factors, including how long you've been married, whether you receive health insurance benefits under your spouse's plan, whether you can take advantage of certain tax or military benefits, and whether you and your spouse can benefit from pooling your resources, including property. You might also opt for a legal separation over divorce for religious reasons or simply if you still love your spouse, but can't live together anymore.

Whatever option you choose, it's a good idea to consult with a qualified divorce attorney who can further explain the benefits and drawbacks of both legal separation and divorce.

Source: Forbes, "Legal Separation or Divorce: Which is Better Financially?" Jeff Landers, Jan. 10, 2012