Explanation of Ohio Divorce Law Division of Property
We often receive the question, “How will my property be divided?” Our property division lawyers provide a great explanation of Ohio divorce law and the division of property. Property subject to division is only that which had been acquired during the marriage, not before. The court considers several factors in dividing the marital property.
Among marital property law factors are:
- Length of the marriage;
- Assets and liabilities of the spouses;
- The desirability of awarding the family home to the spouse with custody of the children;
- Liquidity of the property to be distributed;
- Economic desirability of retaining intact an asset or an interest in an asset;
- Tax consequences of the property division;
- Costs of sale if it is necessary that an asset be sold to effectuate an equitable distribution;
- Any division or disbursement of property made in a voluntary separation agreement.
Some items have easily ascertainable value, such as a bank account, while others are more difficult to assign value to. If spouses cannot agree on the value of such assets, the court will need to decide their worth.
Experts may be needed to appraise such items as:
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With Gounaris Abboud, LPA, you can have peace of mind knowing that you have representation from an award-winning Dayton family law attorney. Our firm can offer you experienced divorce advice ranging from property division to child custody during the entirety of your divorce so your rights are protected and the process can move as swiftly as possible.
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