According to the Centers for Disease Control, the divorce rate in the United States is around 2.3 per 1,000 people. Divorce can still be challenging and emotionally taxing despite this relatively low rate. Amidst the turmoil, it is important to consider how to protect...
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Amy M. Levine
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Can you keep the family home after your divorce?
Going through a divorce is undoubtedly a tumultuous time in your life. Amidst all the emotional and logistical changes, you may wonder about the fate of your family home. Staying in your house can be comforting, as it provides a sense of stability during an otherwise...
Can your ex-spouse move to another state with the kids?
Following your divorce, it is possible that you and your ex-spouse will lead very separate lives. If you have children together, though, then any decisions made by either party are likely to impact the entire family. If your co-parent expresses a desire to move to...
What To Know About a High-Asset Divorce
Going through a divorce is a challenging and emotional process for everyone who faces this situation. It can be particularly complicated if you and your spouse have significant assets. With a thorough understanding of your rights, you can navigate complex financial...
The effect of parental alienation on child custody
Parental alienation is a malicious act, regardless of whether or not the offending parent is cognizant of their behavior. Any instance of one parent physically distancing their child from the other parent or unduly influencing the child's opinion of that parent can be...
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Dividing Debts, Assets And Real Property In Divorce
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With offices in Columbus and New Albany, Ohio, Amy M. Levine & Associates helps clients protect their financial interests throughout the divorce process.
Dividing Assets Equitably In Ohio
Each state has its own set of laws regulating the division of property during divorce or dissolution. In Ohio, all assets acquired by either spouse during the marriage are considered marital property. This property is divided equitably during divorce or dissolution.
Do keep in mind that “equitable” does not always mean “equal.” If one spouse has caused financial harm to the other, the court may redistribute assets to compensate for that harm. In addition, assets that one spouse held before the marriage, gifts made to one spouse, inheritances and personal injury settlement proceeds are not considered marital property.
Real property, such as the marital home or any rental property, is difficult to divide fairly. In some cases, couples may choose to sell the house and divide the income, or offset the value of the marital home by providing additional cash to the other spouse. A knowledgeable lawyer can help you reach a fair resolution and, if necessary, fight for your interests in court.
The Division Of Debts Is More Complicated
Ohio law does not set out specific guidelines for the division of marital debt, which means judges have significant discretion in assigning debt to divorcing couples. This means that the division of debts may vary on a case-by-case basis.
Because there is no formula for dividing debts, it is quite common for spouses to disagree about who should be responsible for which liabilities. It is wise to protect your financial interests by working with an experienced divorce attorney who has handled complex financial issues for divorcing clients in Franklin County and throughout the surrounding areas.
Speak With A Columbus Divorce Attorney About Your Financial Concerns
With extensive experience guiding clients through high-asset divorce and dissolution proceedings, we know what it takes to protect your interests. To arrange a consultation, please call us at 614-360-2942 or contact us online using our intake form. We look forward to helping you preserve your financial wellbeing and your legal rights.
Amy M. Levine
View Profile
Our Latest Blog Posts
How can I protect my assets during my divorce?
According to the Centers for Disease Control, the divorce rate in the United States is around 2.3 per 1,000 people. Divorce can still be challenging and emotionally taxing despite this relatively low rate. Amidst the turmoil, it is important to consider how to protect...
Can you keep the family home after your divorce?
Going through a divorce is undoubtedly a tumultuous time in your life. Amidst all the emotional and logistical changes, you may wonder about the fate of your family home. Staying in your house can be comforting, as it provides a sense of stability during an otherwise...
Can your ex-spouse move to another state with the kids?
Following your divorce, it is possible that you and your ex-spouse will lead very separate lives. If you have children together, though, then any decisions made by either party are likely to impact the entire family. If your co-parent expresses a desire to move to...
What To Know About a High-Asset Divorce
Going through a divorce is a challenging and emotional process for everyone who faces this situation. It can be particularly complicated if you and your spouse have significant assets. With a thorough understanding of your rights, you can navigate complex financial...
The effect of parental alienation on child custody
Parental alienation is a malicious act, regardless of whether or not the offending parent is cognizant of their behavior. Any instance of one parent physically distancing their child from the other parent or unduly influencing the child's opinion of that parent can be...
Visit Our Blog