Splitting assets during a divorce can be difficult. Many Ohio couples are tasked with deciding whether to keep or sell their Hamilton house. Factors that you'll have to take into account when trying to decide what to do with it is how long you've owned the home, how much equity it has built up in it and what the annual property taxes on it are.
A multitude of events in your life can cause your marriage to suddenly make a turn for the worse. You may have thought that you were getting ready to retire only to have that sidelined because you're facing getting divorced. Retirement plans are considered marital property in most states including here in Ohio. If you were fortunate enough to have drafted a prenuptial agreement, then your husband or wife may not be entitled to your retirement at all.
Most people take pictures using their phones or some other type of digital camera nowadays. It, therefore, may seem a bit odd for one to ask what happens with their photographs once a couple decides to divorce. It's not too strange of a question though, considering how it's likely that those photographs are saved on a spouse's actual phone, tablet, computer or in a cloud-based account. Inventorying and arranging for the dividing up of these marital assets may take some negotiation.
The word artist is used to describe individuals who are musicians, screenwriters, painters and other creative-types nowadays. Many individuals who perform this type of work see what they do as a passion. They treat their work as if it were their baby, keeping a close eye on it up until they sign with a record company or sell it to a music studio or an art collector. If you're an artist then you may be wondering what happens if you get divorced before any of this happens. What does may disappoint you.
If there's one factor that holds up divorce negotiations, then property division is at the top of the list. Couples often fight over whether certain valuable items are considered as marital property. Hamilton judges take into account various factors when dividing up spouses' assets.
The number of U.S. small businesses run by married couples hovers somewhere around a few million. The fact that so many smaller companies are family-owned and run can make things difficult if a couple decides to divorce. While many spouses find a way to work together even after they split, others are unable to do so. No matter what path they choose, splitting a business up during a divorce requires some legal wrangling to do so.
If you ask most individuals, they'll say that there's never a right time to go through a divorce. Coming to terms with the fact that your marriage is ending can hard on anyone. It's particularly difficult for those who are preparing to retire or who have recently done so. If you're slated to start receiving Social Security (SS) benefits soon, then it can be equally difficult.
Getting divorced does not necessarily mean you both have to move. In some situations, one person takes over the mortgage or buys their spouse out with a new mortgage, allowing them to keep the home even after the relationship ends.
Filing for divorce in Ohio is often a complicated process. In addition to determining child custody, filling out paperwork and creating visitation schedules, you are forced to divide all of the property and possessions that you have accumulated throughout your marriage. Negotiating the issue of property division can be emotional and somewhat overwhelming, as you must part with items you have grown attached to over the years. Yet, it is important to make sure you include all of your property in the settlement to make sure you receive everything you are entitled to in the divorce.
Divorcing couples should know that Ohio is not a community property state. Because of that, property is not necessarily split down the middle. Instead, the courts will divide your jointly owned property in a way that is equitable and fair, even if it might not be even.