Division Of Assets In Divorce In Ohio

Dividing assets and debts during a divorce can be complex and emotional. At Baker & Wick LLC, we strive to simplify this process for you. We aim for a fair division and quick resolution.

If you want to fight over asset distribution, we aren’t the law firm for you. If you are ready to move forward amicably, let us assist you.

Contact us today for an initial consultation with a lawyer. Call 614-697-2627 or fill out our contact form. We are based in Columbus, Ohio, and serve clients across central Ohio.

Equitable Distribution Vs. Community Property

In any divorce, you will have to divide up your assets and debts fairly. In the U.S., judges use either equitable distribution or community property frameworks. Most states, including Ohio, follow the equitable distribution framework.

Equitable distribution means that a judge will try to divide your assets and debts fairly, and that might not mean equally. In the community property framework, the judge would generally divide all of your assets and debts equally.

In Ohio, if your divorce goes to court, the judge will initially consider a 50/50 split of the marital assets. However, fairness can dictate a different outcome based on various factors. These factors include each spouse’s financial status, contributions to the marriage and future needs.

Understanding these principles is crucial in preparing for the division of assets and debts.

You And Your Divorcing Spouse Can Decide For Yourselves On The Division Of Assets And Debts

Not every divorce goes before a judge for every decision. You have the option to negotiate your asset and debt division directly with your spouse and come to a divorce settlement.

This can be done as part of a negotiated divorce, divorce mediation, the collaborative divorce process or a dissolution of marriage. Agreeing outside of court often saves time and emotional stress. If an agreement isn’t possible, a judge will have to make the decision for you.

Can The Division Of Assets Be Modified After The Divorce Is Finalized?

Changes to asset division post-divorce are rare but possible under certain conditions. If there is a significant change in circumstances or an error was made in the original proceedings, you may seek a modification. An appeal is also an option if you believe the judge made a serious mistake in distributing your assets or debts.

Connect With Us For A Consultation

At Baker & Wick LLC, we provide experienced and strategic counsel tailored to your unique situation. Our attorneys focus on helping people end their marriages as amicably as possible without wasting time and money. Call us at 614-697-2627 or email us today to see how we can help you navigate your divorce with confidence and care.