Property And Asset Division Attorneys For Cincinnati Families
In nearly every divorce, the matter of property division is one of the most complicated, expensive and time-consuming. To get the most out of your divorce, you may need to have someone with extensive knowledge of Ohio asset division laws.
At Stagnaro Hannigan Koop Co, LPA, our experienced attorneys are equipped to handle property and asset division issues in a complex divorce. We help families in the Cincinnati community settle their divorce in a way that is beneficial to our clients, stress-free and thorough.
What Is Marital Property?
In Ohio, assets are divided into marital and separate property. Assets that were acquired before a marriage are typically considered separate property. Assets obtained during the duration of a marriage, including real estate, personal property, income, savings and investments, are considered marital property. However, there are some exclusions to marital assets, such as inheritance, gifts and assets included in a prenuptial or postnuptial agreement.
Who Gets The Marital Home?
If a home was purchased during a marriage, then it would be considered marital property. Spouses have a few options when deciding who keeps the marital house in a divorce. One option involves one spouse keeping the house while the other spouse gets a share of other assets. Alternatively, a spouse could buy out the house from the other spouse. In some cases, the house is sold, and the assets are divided.
What Factors Are Considered When Dividing Property?
Ohio is an equitable distribution state, which means assets are divided equally. There are several factors that can determine what constitutes an equal distribution of assets. These factors can include:
- The duration of a marriage
- Liabilities
- Liquidity of property
- Custody of children
- Economic influences
- Tax consideration
Our lawyers at Stagnaro Hannigan Koop can help examine the value of a marital estate and ensure assets are valued properly.
How Are Retirement Accounts Divided?
In most divorce cases, retirement accounts are divided equitably. That does not necessarily mean that a retirement account is physically divided or split down the middle. In some cases, one spouse may keep the retirement account, and the other spouse would keep assets with similar value.
Talk To An Attorney Today
To get answers to any of your questions, a fair valuation of your marital assets or a better understanding of Ohio’s asset division laws, you can talk to an attorney at Stagnaro Hannigan Koop. Call us today at 513-813-0627 or use our online contact form.