Knowledgeable Guidance On Asset Distribution In Ohio
In every divorce, property distribution questions have the potential to become very emotional very quickly. Through these times, you need a lawyer who can help you make calm, rational decisions. I am Carla B. Davis, Attorney & Counselor at Law. Since 1989, my Toledo law firm has been a reliable source of legal counsel for people going through the divorce process. I have the experience and legal knowledge to help you make appropriate decisions in regard to property division and in other aspects of your divorce.
How Does Property Division Work?
Ohio law requires the equitable distribution of all marital property. Marital property encompasses everything that is owned by both or either of the spouses during the marriage. This can include real estate, personal property, retirement accounts and pensions. The only property that is not marital property is property inherited by one spouse, or any property that was brought into the marriage by one of the parties. You will have to be able to prove to the court’s satisfaction that separate property is indeed separate.
When determining which spouse gets what item, courts look into a number of factors. These include:
- The length of the marriage
- The assets and liabilities of the spouses
- The desirability of awarding the family home to the spouse with custody of the children of the marriage
- The liquidity of the marital property
- Whether it is desirable for a marital asset to remain intact
- The tax consequences of the property division
In situations where you and/or your spouse own a business, we will enlist the help of experts to properly determine the value of the business. We are adept at finding creative solutions to accomplish your goals in the property division process.