Dividing Marital Assets
A separation or divorce is a difficult and emotional time. These difficulties and emotions are only compounded by the fact that every marital asset (i.e., home, retirement, banking accounts) and debt (i.e., mortgage, credit cards, loans) must be divided between the parties.
Ohio utilizes an equitable distribution process to ensure that all of the marital assets and debts are equitably divided between the parties. Equitable does not necessarily mean “even” but, more importantly, “fair.” In other words, when a court seeks to divide the marital estate, it will do what is fair and appropriate; often times this results in an “even” division but sometimes it does not. Generally, the court utilizes various factors in determining what is fair, including, but not limited to, length of marriage and earning capacity of both parties.
Family Law Attorneys
Our family law attorneys are skilled problem-solvers and will work to create a property settlement agreement through negotiation or mediation. In our experience, this often leads to a better result for both parties. Leaving these important and sensitive issues in the hands of the court, who has no knowledge of your personal lives or preferences, typically does not end with a result that is practical or preferred by either party.
Our attorneys have represented clients with complex property division issues such as separate property, family businesses, other business investments or interest, stocks, bonds, dividends, pensions, and 401(k) and other retirement accounts. Our attorneys will utilize, when necessary and appropriate, property valuators, forensic accountants, pension and retirement valuators, and other experts to properly value your assets, in order to better advise you and advocate on your behalf concerning these assets.
If you have questions or want more advice concerning property division, please contact one of our family law attorneys as soon as possible to find out how they can help. For more information see our Family Law page.