The first step in any division of property in Ohio is determining what qualifies as a marital asset and liability. With a few significant exceptions (such as inheritances to one spouse), marital property includes all real and personal property that either spouse currently owns or has an interest in that was acquired during the marriage. Once the court determines what assets and liabilities are marital assets and marital liabilities, the court will divide those assets equally unless an equal distribution would be inequitable. This means that it's possible for marital property to be divided in other ways than a 50/50 split.
Division of property and debts of the marriage is often one of the most contentious arguments in a divorce, especially if you are dissolving a high net worth marriage. I work hard to help my clients get favorable solutions when it comes to property division. This is especially important if your property division concerns include investment assets, retirement plans, high value property, or professional practice interests. If so, you need an attorney who understands the complexities of property division in Ohio.
Even if you think you and your spouse might be able to come to agreement on certain aspects of property division, this issue is too important for you to not know your rights under Ohio law. Work with an attorney so that you are protected from the beginning, increasing the chances of a better life after your divorce is finalized.
It's very common for divorcing couples to fail to agree about property division. When you get divorced, all assets gained and liabilities incurred during the marriage have to be divided between the divorcing spouses. Whether it's the marital home, cars, credit card debt, or retirement accounts, there is significant room for disagreement about how to fairly divide these assets and liabilities.
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