For A Fair Division Of Property

In Ohio, all property acquired during a marriage is considered marital property and is subject to division during a divorce. The law calls for marital property to be divided in a manner that is fair and equitable, but not necessarily equal. While a 50-50 split of marital property may be fair in some circumstances, other may require a different division depending on a variety of factors. It is important that you enlist a lawyer who understands the factors that can influence the division of property and can pursue an outcome that makes sense for you.

At The Law Offices of W. Scott Russell in Lebanon, we have more than 10 years of family law experience. We are well-versed in the factors that need to be considered when determining how to divide property, including the age and income of each spouse. We also recognize that asset division does not exist in a vacuum and that it needs to be considered alongside other financial issues such as spousal support, child support and child custody arrangements.

Marital Property Versus Separate Property

An understanding of the distinction between marital property and separate property is critical in reaching a satisfactory property settlement. Separate property is property that is not subject to division. It includes real estate and other assets acquired prior to marriage, as well as gifts and inheritances. We take great care to identify and protect your separate property and to prevent your spouse from misclassifying marital property as separate property.

Marital property can include the family home, businesses and even retirement accounts. Just because an asset is owned in one spouse's name does not change the fact that it is marital property if it was acquired during the marriage. Additionally, if separate property increased in value or gained interest during the marriage, the increase and interest may be considered marital property. This can get complex, which is why you can benefit from a skilled attorney.

Free Consultation About Property Division

Call us at 513-409-0343 or send us an email. We offer free consultations about property division and all other elements of divorce.