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property division Archives

How to determine your home’s value

Here at the Law Office of Kristen L. Campbell LLC in Ohio, one of the things we do on an almost daily basis is to help divorcing couples arrive at a fair and equitable property settlement agreement. Usually this includes assessing the value of the marital home, which often represents the couple’s largest asset.

How does Ohio define nonmarital property?

If you and your spouse are about to obtain an Ohio divorce, you need to know about the difference between marital and nonmarital property. As FindLaw explains, Ohio is one of the equitable distribution states in which all your marital property must be divided between you in a fair and equitable, but not necessarily equal, manner.

What is a QDRO?

As you and your spouse contemplate obtaining a Ohio divorce, you should pay particular attention to your respective retirement accounts and pension plans. In all likelihood, these represent significant assets and need to be divided fairly and equitably between you.

Judge rules in favor of man's custody of dogs

People in Hamilton may tend to imbue their pets with human-like properties, referring to them as their best friends or as members of their family. While dogs, cats and other pets certainly do offer a greater level of companionship and shared affection than a standard piece of property, that is how they are viewed during divorce proceedings. Rather than rule on the custody of pets as it would with children, courts tend to determine their ownership during property division proceedings. Yet that is a principle that many have expressed a desire to see changed. 

Mortgages, credit cards and divorce

Divorcing couples in Ohio often bemoan the process of splitting up their assets and certainly, this is understandable. Nobody likes the thought of giving up something they treasure or have worked hard to earn or obtain. However, the property division portion of a divorce settlement is not just about assets. Debts must also be dealt with and split in an appropriate manner. For many couples, a mortgage and credit card debts are common forms of debt that they must make decisions about when ending their marriages.

Is all property eligible for division?

When you file for divorce in Ohio, there are a host of issues that must be negotiated in the final divorce settlement. In addition to alimony and child custody, property division may be one of the most difficult topics to tackle when organizing the final decree. It can be hard to determine if all property and assets are disclosed and who is entitled to what.

Do you need a forensic accountant on your divorce team?

When you separate from your significant other in Ohio, chances are, you are going to need to do some untangling of your shared assets and debts. While the process can prove easier for some divorcing couples than others, increasingly, those looking to make sure they get everything they deserve in the split are relying on the assistance of forensic accountants.

How can a divorce affect your taxes?

Whether you are currently going through a divorce or you have just recently filed for legal separation, there are several matters that must be taken care of. You may be occupied with issues involving property division, child custody and alimony, but forget to think about how the divorce will affect your taxes. The financial implications of divorce can be difficult to handle, and some may have long-lasting effects on your life. Taxes, for one, will most likely be different whether you are filing jointly or separately.

Is your spouse hiding marital property?

When you exchange your marital vows, ‘till death do us part,’ you definitely do not see a divorce in the future. Yet, more than half of all marriages end in divorce, according to the Centers for Disease Control and Prevention. Terminating a marriage can be extremely emotional and it may be overwhelming to make difficult decisions during this hard time. One of the most difficult tasks to tackle is dividing marital property, or the property and assets that were amassed during the course of the marriage. During the divorce, both parties are required to disclose all property and assets that were accumulated throughout the marriage. Yet, in some cases, spouses may be tempted to hide property in order to keep it solely to themselves once the divorce is finalized.

Can I include Whiskers in my prenup?

For many residents of Ohio and elsewhere, pets are more than just property – they are members of the family. Traditionally, dogs, cats and other animals are treated like marital property during a divorce. However, deciding which spouse should get the family pet can be a much more emotional and contentious issue than splitting ownership of the house and cars. Can you do anything that may protect your relationship with your beloved pet if your marriage fails?

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