Explaining How Property Is Divided During The Course Of A Divorce
If a couple cannot agree on a settlement during a divorce, the court will decide how to divide their marital property. In Ohio, marital property is divided by equitable distribution, which means “fair,” not necessarily “equal.” You may need an experienced divorce lawyer to argue for what is fair to you.
Marital liabilities must also be divided. These include debts, mortgages, loans, credit cards, taxes and judgments. We will work to achieve a fair settlement for you.
Dividing Marital Assets And Debts
All assets and liabilities owned at the time of divorce or dissolution of marriage must be identified and valued in order to achieve a just and equitable property division. Issues arise concerning the disposition of property or debts that may have been owned or owed by one party at the time of the marriage or inherited during the marriage.
We will help you define what is marital property and what is separate. We can work with forensic accountants to find hidden assets and have them valued.
Examples of assets include:
- Real estate (primary residence, vacation home or another property)
- Personal property (vehicles, art, furniture or jewelry)
- Retirement accounts
- Stock options and portfolios
- Trust benefits
For knowledgeable, experienced divorce representation, come to John Shryock Co. L.P.A. We have more than 40 years of experience in family law. We will work for a resolution out of court, but we are also skilled trial lawyers who will fight for you if necessary.