Under Ohio divorce laws, all property and assets that were accumulated during you and your spouse’s marriage are marital, regardless of whose name is on the account. While each case is unique, the courts will seek to divide all marital assets “equitably” between both spouses.
To help provide a deeper understanding on this topic, here are two things you should know about the state’s property division processes:
Do Ohio courts always divide marital assets equitably?
While Ohio follows the equitable distribution model for property division, the state requires judges to divide a divorcing couple’s marital property equally, unless this process is unfair to one party.
When this happens, the court will assess several factors in you and your spouse’s marriage that can help determine a fair distribution of marital property. Additionally, if your spouse showed signs of financial misconduct, the court shall provide you with compensation for their actions.
Three common forms of financial misconduct include:
- Purchasing illegal substances like drugs
- Losing a notable amount of money from gambling
- Failing to disclose an asset during the divorce proceedings
However, you must provide vital evidence that can help prove that your spouse has misused your marital funds and exactly how much money was misused.
Which types of assets are non-marital?
There are four types of non-marital assets in Ohio. They are:
- Any property that you owned before marriage
- Your inheritance
- Gifts from your spouse
- Personal injury award for your pain and suffering
Also known as separate property, these types of assets belong to only one spouse and are not subject to property division. However, they need to carry proper legal documentation that can help prove to the judge that they are indeed “non-marital” assets.
Asking for help is not a sign of weakness
Divorce is a scary and challenging time in your life. If you need assistance along the way, seek the help of an experienced family law attorney. With their guidance, they can help protect your rights and fight for fair distribution of your marital property.
