On April 27, a 57-year-old Ohio man was found guilty of health care fraud and several other charges related to a Medicaid billing scheme. According to prosecutors, the man received around $2 million in fraudulent reimbursements from Medicaid. Billing for X-rays that...
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Medical debt is the top cause of bankruptcy filings
Medical debt is the No. 1 reason that people file for bankruptcy. An abrupt illness can lead to excessive medical bills that are even difficult to pay for people who have full-time jobs and health insurance. The medical debt factor has been on the minds of many people...
Understanding the Ohio probate process
It's a good idea to take the time to draw up a will if you haven't already. This document lets you leave money and assets to your family, friends and selected charities. If you don't leave a will, your estate may be subject to laws that determine how your estate is...
Signs a divorce may be right for you
Nobody gets married with the intention of getting a divorce, but it may be right for some couples. Even though 50% of marriages in the United States end in divorce, many more couples turn a blind eye to the signs they divorce may be the best option for themselves....
What should you do after a car crash in Ohio?
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Dividing Debts, Assets And Real Property In Divorce
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With offices in Columbus, Ohio, and Huntington, West Virginia, 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 An 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
Man found guilty of defrauding Medicaid of $2 million
On April 27, a 57-year-old Ohio man was found guilty of health care fraud and several other charges related to a Medicaid billing scheme. According to prosecutors, the man received around $2 million in fraudulent reimbursements from Medicaid. Billing for X-rays that...
Medical debt is the top cause of bankruptcy filings
Medical debt is the No. 1 reason that people file for bankruptcy. An abrupt illness can lead to excessive medical bills that are even difficult to pay for people who have full-time jobs and health insurance. The medical debt factor has been on the minds of many people...
Understanding the Ohio probate process
It's a good idea to take the time to draw up a will if you haven't already. This document lets you leave money and assets to your family, friends and selected charities. If you don't leave a will, your estate may be subject to laws that determine how your estate is...
Signs a divorce may be right for you
Nobody gets married with the intention of getting a divorce, but it may be right for some couples. Even though 50% of marriages in the United States end in divorce, many more couples turn a blind eye to the signs they divorce may be the best option for themselves....
What should you do after a car crash in Ohio?
Being in a car accident can leave you confused and not knowing what to do next. However, it is important to know what steps to take in order to ensure your safety and the safety of others. Being decisive after a car accident can also help you get compensated for...
Visit Our Blog