Deciding how to divide property during a divorce can be difficult, especially if you and your spouse are not getting along. The court can step in and decide if you’re unable to reach an amicable agreement. Understanding property division laws and the process is crucial to fighting for a fair outcome.
Ohio Property Division Laws
During a divorce, Ohio courts must identify and distribute all of the property the spouses owned at the time of the divorce. Property can be either separate or marital.
Marital Property
Marital property includes all of the following under Ohio law:
- Property either of you owns now, including retirement accounts earned while married
- Any interest either of you has in property gained while married
- Increases in the value of separate property caused by either spouse’s work or money during the marriage
- Certain retirement plan accounts, as defined by law
Remember that property is presumed to be marital. The spouse claiming an item is separate must prove it with clear tracing; otherwise, it may be divided by the court.
Separate Property
Types of separate property include:
- A gift or inheritance to one spouse
- Real or personal property acquired prior to the marriage
- Passive income and appreciation acquired from separate property by one spouse during the marriage
- Compensation to one spouse for their injury
Marital fault does not affect property division unless it involves financial misconduct or other forms of misconduct.
Spouses are required to fully disclose all their property and debt, not just marital property, during the divorce process. The court presumes that the spouses have contributed equally to the acquisition and production of marital assets. The division of property must be made before any award and without any regard for spousal support.
Who Decides How to Divide Property in Ohio?
Spouses who are getting divorced can decide how to divide their property. They can agree to split their property 50/50 or in any other way they find fair. They can enter into a written agreement together and then request that the court convert it into an official order.
If the spouses cannot reach an agreement, the court can decide by using the framework described above.
Factors Ohio Courts Consider When Dividing Property
The court starts with the presumption that marital property should be divided equally. However, if it determines that an equal division would not be equitable, it will consider all relevant factors, including the following:
- Length of the marriage
- Each spouse’s assets and debts
- Whether keeping an asset intact makes sense
- Whether the parent with custody should keep the home
- What your separation agreement already divides
- Retirement benefits
- How easy the property is to sell
- Selling costs and taxes
There may be other relevant factors the court can consider, depending on the specific circumstances.
Contact Atkins And Akins Attorneys At Law, LLC, for a Free Consultation With a Columbus Property Division Lawyer
If you are considering divorce and its impact on your finances and assets, you need skilled legal representation from an experienced divorce attorney. Atkins And Atkins, Attorneys At Law, LLC, has extensive experience handling property division and other financial issues during divorce proceedings.
For more information, contact our experienced Columbus family law & divorce attorneys at Atkins And Atkins, Attorneys At Law, LLC by calling (614) 485-8248 to schedule a consultation.
We serve all through Franklin County and its surrounding areas in Ohio. Visit our office at:
Atkins and Atkins, Attorneys at Law, LLC – Columbus Office
503 S Front St Suite 203, Columbus, OH 43215
(614) 485-8248
