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September 2014 Archives

Common property division errors

When a couple is going through a divorce, there are many things to remember. In addition to the relationship ending, assets and debts have to be divided. In Ohio, an equitable distribution state, mistakes are commonly made in the division regarding retirement accounts, tax considerations, jointly-held credit cards and other issues. An incomplete or vague agreement that does not encompass everything can pose difficulty for the parties afterwards.

Understanding child support requirements in Ohio

Child support can be ordered for a variety of reasons in Ohio. Whether or not the parents have been married, support for the child can be sought once the parentage has been proven legally. The Child Support Enforcement Agency can help set up or enforce a child support order. This can also be done through the courts.

How assets are divided during a divorce in Ohio

When a couple in Ohio ends their marriage, they are likely to have to go through asset division. According to the laws in Ohio, marital assets, which are assets accumulated over the course of a marriage, are to be divided equitably, although this often ends up being interpreted as equally. In general, the marriage is considered to be from the time of a marriage ceremony until the date that the marriage is terminated by the court, although this may be considered a shorter period if a couple had been separated for a while before the divorce.

Guide to alimony and spousal support in Ohio

Spousal support is granted to Ohio divorcees in the event that one party has a significantly higher income than the other. The logic behind spousal support is that it enables the lower-paying spouse to maintain a standard of living similar to the duration of the marriage. This may be temporary or permanent, depending on the length of the marriage and the employability of the recipient partner.

Dissolving a marriage with complex asset division

According to a recent article, there are a number of ways that a divorce might be complicated by diverse and numerous financial assets. Many assets, such as stock options and closely held businesses, can be difficult to value or divide. In addition, some divorces are complicated by misreported details about one party's financial situation. Because of these factors, it might be beneficial for a person who is going through a High Asset divorce to work with a forensic accountant.

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