There are four reasons an Ohio judge will consider as grounds for invalidating a person's will. They include fraud, undue influence on the testator, and a lack of understanding on the part of the testator. Finally, if a will is not structured properly under state law,...
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When might a spouse speak to a divorce attorney?
A marriage could become intolerable for both spouses, but that doesn't mean both partners rush to get a divorce. Those unable to reconcile problems in the marriage may eventually seek to dissolve the union. Since divorce requires completing a legal process under Ohio...
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The death of a loved one brings challenging times and significant responsibilities for the family members left behind. If you have recently lost someone, you may have numerous questions about the probate process and what to expect. The details below may help you...
Tips for raising a child with a former spouse
In most cases, Ohio law will allow both parents to have relationships with their children after a divorce. Therefore, it's likely that you will interact with your former partner on a regular basis even after dissolving your marriage to that person. Fortunately, there...
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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
What are the valid reasons to contest a will?
There are four reasons an Ohio judge will consider as grounds for invalidating a person's will. They include fraud, undue influence on the testator, and a lack of understanding on the part of the testator. Finally, if a will is not structured properly under state law,...
When might a spouse speak to a divorce attorney?
A marriage could become intolerable for both spouses, but that doesn't mean both partners rush to get a divorce. Those unable to reconcile problems in the marriage may eventually seek to dissolve the union. Since divorce requires completing a legal process under Ohio...
How probate works in Ohio
The death of a loved one brings challenging times and significant responsibilities for the family members left behind. If you have recently lost someone, you may have numerous questions about the probate process and what to expect. The details below may help you...
Tips for raising a child with a former spouse
In most cases, Ohio law will allow both parents to have relationships with their children after a divorce. Therefore, it's likely that you will interact with your former partner on a regular basis even after dissolving your marriage to that person. Fortunately, there...
What happens right after filing for personal bankruptcy?
Many people who are considering filing for bankruptcy in Ohio have read about what bankruptcy can do for them in the long term. After completing the whole bankruptcy process, most of your debts will probably be wiped clean, and you can then start the process of...
Visit Our Blog