When it comes to ending a marital union, two commonly used terms are divorce and dissolution of marriage. While both may signify the end of a marriage, they differ in significant ways. Grounds for separation According to the CDC, 689,308 divorces occurred in 2021....
Divorce
When can separate property become marital property?
Divorce tends to involve the intricate division of assets. Efficiently dividing these assets requires distinguishing between separate and marital property. Ownership can be a confusing matter during a divorce if you are unsure if your property is still separate or if...
How gray divorce impacts standard of living for men and women
Gray divorce, or the dissolution of marriages among those 50 and older, brings with it significant financial consequences that can disproportionately affect the standard of living for both men and women. However, women often experience a more substantial decline in...
Revisiting your prenuptial agreement during divorce
When couples fall in love and want to marry, they sometimes sign prenuptial agreements. Before your wedding, you may assume that the union will last forever and thus be willing to accept less favorable terms. Unfortunately, many marriages fall short of eternal. If...
What happens to debts in a divorce?
Divorce can be a complex process with various aspects to consider. One particularly complicated aspect is the handling of debts when a marriage ends. Debt division during a divorce can have a lasting impact on both parties' financial well-being, so it is necessary to...
How social media can create chaos in a divorce
Statistica reported that there are 302.25 million social media users in the United States as of 2022. In the digital age, social media has woven itself into the fabric of life. However, during the challenging process of divorce, it can be a double-edged sword. While...
Keeping your investment portfolio intact through a divorce
While your main focus during a divorce should be your well-being and the well-being of your family, it is also important to consider the future of your assets. Your investment portfolio, in particular, is a complex asset that might add layers of complexity to your...
Who gets the vacation home in an Ohio divorce?
High-asset divorces often involve more property than just the family home. Whether it is a beach house, a cabin in the woods or some other vacation destination, such property has a lot of value, so the question of who receives it is naturally a common one. When...
How income changes affect spousal support in Ohio
In Ohio, the court typically orders spousal support as part of a divorce settlement. Spousal support provides financial assistance to the lower-earning spouse, especially when there is a significant income disparity between the spouses. Courts modify spousal support...
Exploring alimony options in Ohio
The divorce rate in Ohio in 2020, according to the Ohio Department of Health, was a little over half of the marriage rate. Every one of those couples who decided to end their marriages had to decide on a variety of important details. One of those points of focus for...