The division of property is often a hotly contested factor during divorce proceedings. When the couple cannot agree about who deserves what, then it is up to the Court of Common Pleas to establish what it views as an appropriate division of property. Ohio is considered an "equitable distribution" state under Code 3105.171. This does not mean that marital assets are split in half, but rather are divided in a fashion that the court determines is fair and equitable.
Our knowledgeable family law attorneys can assist you with any issues related to property division in Columbus, Delaware, Cleveland, Mt. Gilead and throughout Ohio. If you have questions or concerns about your assets in your upcoming divorce, then we invite you to contact us at The Law Offices of Saia & Piatt, Inc., today.
How Equitable Distribution Is Established
In order to establish equitable distribution, the court must assess and valuate all the property that was obtained during the marriage. These dates are usually from when the marriage was legally recognized until the legal termination of the marriage, but if the court finds that other dates are more appropriate, they will adhere to those alternate dates.
Equitable distribution considers the following factors:
- All assets of the spouses
- The liquidity of the assets
- The length of the marriage
- The importance of the family home in the custody of children
- Any tax issues the division of certain property presents
- All liabilities held by the spouses
- All property distribution that has been agreed upon by the spouses
- The cost of selling any property that needs to be sold to be divided
- Any other factors the judge finds relevant to the division of property
Ensure You Retain The Property You Deserve
Even when the court is handling the division of property, conflicts can still occur. Some assets, like businesses or valuables, can be difficult to valuate, and the court may rely on testimony to determine its valuation. It may also be necessary to assert that some property qualifies as "separate property" and not marital property. That is why it is critical to retain aggressive and incisive representation during this time.
Our team of family lawyers has extensive experience in both mediation and litigation and now how to properly frame reasonable and convincing arguments to a judge. Make sure you get the property you deserve during your divorce. Contact The Law Offices of Saia & Piatt, Inc., to schedule a free case evaluation today.