In theory, dividing assets down the middle when it comes to a divorce works well. In practice, that might be a totally different can of worms.
The best and fastest way to get a divorce in Ohio is to usually go the dissolution route. The problem is a lot of people have a great deal of difficulty agreeing on how to go about splitting things in half equitably.
If you ever thought divorcing was difficult, wait until you get into a fight over assets. It’s just not worth it, and before you waste the time over who gets the china cabinet, speak to a qualified Ohio divorce attorney who will tell you right up front that Ohio is an equitable division state.
Being an equitable division state means that all the things you collected during your marriage – note the distinction between during the marriage and prior to it – are owned equally by both of you. Those assets that came into the marriage belong to the individual who had them in the first place. What this boils down to is the difference between personal and jointly owned property.
So, that china cabinet your late grandma gave you will be yours if you had it prior to your marriage. However, the large plasma TV you both bought the year he got a promotion at work, belongs to both of you equally. And this is where the “fun” usually begins; the spouses fighting over who gets what.
If you can’t make things fly on your own and get some type of agreement hammered out, then the court will decide for you, making sure it is a fair decision for both parties. Fault is not an issue in decisions like this; only the equitable division of assets 50/50 is the guiding rule. This isn’t to say there may not be a deviation from this rule of thumb if there is a good reason (which is rare).
In most instances the spouse who ends up with custody of the children will also get the family home (or the right to live in it). The usual rule here is that real property is divided based on its liquidity. Your divorce lawyer will explain this to you. In general it means the value of the house when it’s sold minus any real estate fees.
There are other issues involved here and they usually relate to the financial resources and obligations of both the spouses, the length of the marriage and spousal support. For these issues it is best to ask your lawyer how things may be resolved in the long run. This will allow you to make an informed decision in partnership with your divorce attorney.
Jeremiah Denslow is a Dayton Divorce Lawyer in Dayton Ohio with Denslow Law Firm. The firm specializes in family law. Jeremiah also practices Dayton criminal defense. To learn more about Dayton divorce lawyer, Dayton dui lawyer, Dayton defense lawyer, Dayton divorce attorney, Dayton dui attorney, Dayton defense attorney, Dayton attorney, Dayton lawyer, Dayton Ohio, visit Denslowlaw.com.
