DecomposeText is an After Effects script from developer nab that takes a text layer and breaks it up into separate layers, split by character, word, or line. Instead of managing one block of text, you end up with individual layers you can work with separately.
It offers two ways to handle position. The expression-based mode keeps the original position: each new layer carries the same text as the original with some elements hidden, so everything stays where it started. The approximated mode works without expressions, producing new layers that are one character, word, or line long each. You choose the split level and the positioning approach that suits the job.
Compatibility runs across a wide span of After Effects releases, from CS6 through the 2025 version, covering the CC generations in between. A demo video is available for those who want to see it before installing. Version 3.1 addressed a bug affecting position with Separate Dimensions.